Byblos pays out dividends

Payments flat despite profits drop

The Board of Directors of Byblos Bank has proposed distributing dividends of LL200 per share to holders of common shares on its 2012 profits, unchanged from 2011. The earning to price ratio for a common share is around seven percent (as per the share price at last closing on May 9).

Holders of preferred shares classes 2008 and 2009 will both receive $8 per share. GDR holders will receive LL200 per share paid in US dollars.

All dividends are subject to a five percent tax. Dividends will be paid on or about May 17 to shareholders as at May 15, according to the records of Midclear. Holders of GDRs will receive their payments starting May 23.

Byblos Bank saw its profits drop by almost six percent in 2012 to $169 million, after allocating some $67 million in provisions for doubtful loans.