The shareholders of Bank Of Africa (BOA) Senegal, a subsidiary of the banking group of the same name, will receive on June 3, 2019 an amount of 4.266 billion FCFA (about 7.252 million dollars) in the form of gross dividends for the 2018 financial year, APA learned Friday from this banking institution based in Dakar.

This amount is a resolution that the bank's board of directors intends to propose to shareholders at the Ordinary General Meeting scheduled for April 19, 2019.

It represents 50.1% of BOA Senegal's after-tax profit against 42.2% in 2017. This amounted to 8.508 billion CFA francs against 10.113 billion CFA francs in 2017, a decrease of 15.87%.

The profit made during the period under review follows an amortization allowance of 1.906 billion CFA francs, an allocation of 7.528 billion CFA francs and the payment of income tax of 759.097 million CFA francs.

After payment to the State of the Tax on income from securities (IRVM) at the rate of 10% on the gross dividend, the directors of BOA Senegal intend to pay shareholders a net dividend corresponding to a remuneration of 160 FCFA per share of 1,000 F CFA. This net dividend per share is the same as that paid to shareholders at the end of the 2017 financial year.