Audi mulls 2011 dividends

Board of Directors suggests a gross $0.38 per common share

The Board of Directors of Bank Audi - Audi Saradar group will propose to the general assembly the distribution of a dividend of LL 603 (currently equivalent to around $0.4) per common share.

The net amount proposed to be paid, after deduction of the applicable withholding tax at the rate of five percent, is thus LL 572.85 (currently equivalent to around $0.38) per common share.

The dividends will be paid to holders of common shares in April after the approval of the group’s general assembly.
Bank Audi made a net profit of $365 million in 2011, a growth of 3.7 percent from 2010. In 2010, Bank Audi distributed a net of LL603 ($ 0.4) per share in dividends to holders of common shares.

Audi’s consolidated assets reached $28.7 billion as of December 2011, of which $24.7 billion in customer deposits.