YEREVAN, June 16. /ARKA/. Araratbank said today it will not pay dividends to shareholders for 2016. It said this decision was unanimously adopted by the annual meeting of shareholders today. David Harutyunyan, deputy chairman of Araratbank Board, noted in his speech that a similar decision was adopted by the bank last year as well.
He said the net profit to the tune of 1.089 billion drams, earned by the bank in 2016, will be used to replenish the reserve fund of the bank and keep it as undistributed profit. The last time the bank paid dividends to shareholders was for 2013.
Araratbank is owned by Flash oil trader (64.25%) EBRD (25%) and RURAL IMPULSE FUND II SA SICAV SIF (10%) .Araratbank joined NASDAQ OMX Armenia stock exchange in January 2009. ($ 1- 481.77 dram) ..
