Alawwal Bank’s shareholders to vote on FY16 dividend freeze

Shareholders of Alawwal Bank will vote on a dividend freeze for fiscal year 2016 at their upcoming extraordinary general meeting on March 29, the bank said in a regulatory statement Wednesday.

Shareholders will also discuss the 2016 annual board report, auditor reports, balance sheet, and profit/loss statements for the past year.

During the meeting, shareholders also plan to discharge board members from liability for 2016, elect auditors for the coming fiscal year, and endorse the board’s bonuses and compensations.