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FINANCIAL NEWS
Bahrain’s Alba to reduce 2015 dividend
20 Feb 2016
(MENAFN) Aluminium Bahrain (Alba), one of the world’s largest aluminium, reduced its dividend for last year in order to free up cash for its expansion project.
Moreover, the project expansion is predicted to worth USD 3.5bn and increase Alba’s annual output by 514,000 tons to 1.45mn tons a year.
Additionally, the firm offers whole cash of USD 41.1mn for its 2015 dividend, of which half has already been paid, while the rest would be paid in March.
The Co. completed 2015 with USD 309mn in cash, and most of that would be used to finance the expansion of the sixth plotline as its smelter.
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