BOA Mali rewards shareholders with $4.6m after 135% profit jump

BREAKING NEWSApril 16, 2024 at 12:05 PM UTC

TLDR

BOA Mali's subsidiary of the BOA group saw a significant 134.84% profit surge, reaching 5.78 billion FCFA in 2023.
BRVM-listed bank announces a generous dividend allocation of 2.84 billion FCFA, equivalent to a distribution rate of 49% and a net dividend per share of 144 FCFA after tax deduction.
With a share price of 1,595 FCFA on April 5, 2024, investors can enjoy an attractive dividend yield of 9.03%.

BOA Mali shareholders are set to receive long-awaited rewards after the subsidiary of the BOA group saw a remarkable 134.84% surge in profit, reaching 5.78 billion FCFA ($9.4 million) in 2023.

In response to this impressive performance, the BRVM-listed bank has decided to allocate a generous dividend of 2.84 billion FCFA to its shareholders.

This allocation, representing a distribution rate of 49%, translates to a net dividend per share of 144 FCFA after the deduction of a 7% tax on Securities Income (IRVM). Considering the share price on April 5, 2024, at 1,595 FCFA, the dividend yield stands at an attractive 9.03%.

Key Takeaways

The underlying trend in BOA Mali shares is currently upward, with the stock experiencing a 10% gain in the month leading up to April 8, rising from 1,300 FCFA to 1,595 FCFA at the close of April 5, 2024. It's noteworthy that the stock reached its highest price in one year, with its Relative Strength Index (RSI) indicating a neutral zone at 57.80%. Overall, shareholders may view these developments optimistically, considering BOAM's strong performance in both the short term and year-to-date.

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