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AfrAsia Bank Limited and its Group Entities
Annual Report 2015
page 63
DIVIDENDS POLICY
The Bank’s dividends are proposed by the Executive Committee to its Board regarding the amount of dividends payable in line with
the provisions of the Banking Act 2004, the Companies Act 2001 and the Bank’s Constitution. Once the Board is satisfied with the
Bank’s recommendation, along with the solvency tests being met, approval of the Bank of Mauritius is then sought for distribution
of same.
DIVIDEND ON ORDINARY SHARES
The Bank has achieved a satisfactory financial return to allow dividends of MUR 117,718,772 (MUR 1.65 per share), declared and
paid during the year under review (2014: MUR 116,027,201 that is, MUR 1.5 per share / 2013: MUR 88,068,022 that is, MUR 1.25
per share).
DIVIDEND ON CLASS A SHARES
Dividend for an amount of MUR 137,790,956 was declared in December 2014 and June 2015. Out of this amount, MUR 69,860,689
is due as at 30 June 2015.
SHARE OPTION PLANS
Please refer to the note on “Other Reserves” contained on Note 32 of the Annual Report.