Bank of Africa (BOA) Burkina, a subsidiary of the banking group bearing the same name, will on June 29, increase its share capital by incorporating additional paid-in capital, retained earnings and free share issues for CFA11 billion (about $17,600 million).The Ouagadougou-based banking institution told APA on Thursday that the operation will entail the creation of 1,100,000 new shares with a nominal value of CFA 10,000 (1 CFA franc = 0.0016 dollars).
These securities will be allocated free of charge to shareholders on the basis of one new share for a formerly held share.
The dividend entitlement date of the newly created shares is set retroactively to January 1, 2017.
As of December 31, 2016, BOA Burkina had reaped an after tax profit of CFA12.442 billion against CFA12.028 billion in 2015, representing a 3-percent increase.
The bank’s total balance sheet had increased by CFA 57.330 billion to reach CFA 714.127 billion, compared to CFA 656.796 billion in 2015.