APPROVAL was given for the distribution of dividends to Alba shareholders for 2012 which amounted to  BD39.6 million ($105 million) and were equivalent to 28 per cent of the nominal value of the company’s shares - 28 fils per share of which 14 fils was already distributed to the shareholders in August 2012.

Chairman of Alba’s Board of Directors Mahmood Hashim Al Kooheji said at the annual general meeting: “2012 proved to be another successful year – Alba was marked by a breakthrough record in production of 890,217 tonnes on the back of continued focus on the efficiency of our operations.

“The company was able to demonstrate a resilient financial performance in light of the London Metal Exchange (LME) prices fluctuations where its net profit amounted to $257 million. Our shareholders are the prime beneficiaries of Alba’s achievements in 2012 and the dividends remain a tangible indicator of the company’s success story.

“As we move forward in 2013, I am confident that the company will continue to perform through the leadership of the management team and its skilful workforce.”

At the end of the AGM, Ernst & Young was approved to continue as the company’s external auditors for the fiscal year in 2013.