FAB to begin distribution of AED8 billion dividends March 17

2019-03-12 10:03:06 GMT (Economies.com)
 

First Abu Dhabi Bank (FAB) will begin the distribution of cash dividends at above AED 8 billion on March 17, to shareholders of record till March 3 and purchasers of the bank’s stock on March 5.

 

Shareholders approved in February the distribution of cash dividends at 74% of capital, or AED 8.06 billion (74 fils per share) for the fiscal year ended on December 31, 2018.

 

They also gave the go ahead for raising the foreign ownership cap to 40%, from 25%, after obtaining required regulatory approvals, which comes amid a plan to issue bonds at a value of between AED 2-4 billion in 2019.

 

The bank earlier distributed cash dividends at 70% of capital, or 70 fils per share, totaling AED 7.63 billion for 2017.

 

FAB’s net profit rose in 2018 to AED 12.1 billion, from AED 10.9 billion in 2017. FY18 operating revenues fell to AED 19.4 billion, from AED 19.5 billion.

 

 

 

 
 
 
  Symbol Last Change Chg.%
1.1606
0.0036
0.3139%
1.3751
0.0123
0.9053%
Tadawul
11773.36
25.09
0.21%
23.335
0.700
3.090%
82.022
0.902
1.112%
84.86
0.86
1.02%
1767.855
13.150
0.749%
 
 
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