Abu Dhabi Islamic shareholders agree to increase foreign ownership

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Abu Dhabi – Mubasher: The General Assembly is approved Abu Dhabi Islamic Bank During its recent meeting, the ratio of non-citizens owning the bank’s shares increased to a maximum of 40 percent, and Article 7 of the bank’s articles of association was amended accordingly after obtaining the necessary approvals.

The Assembly approved the proposal of the Board of Directors to distribute cash dividends to shareholders of 994.3 million dirhams, or 27.38 percent of the nominal value of the share.

The bank said in a statement that the association approved the distribution of 27.38 UAE fils per share, from the net profit for the year 2019.

According to the statement, the last day of purchase falls next April 6, the date for excluding from profits April 7, 2020, and the closing date for the record next April 8, provided that the payment be within 30 days of the date of the General Assembly.

The capital of the bank is 3.632 billion dirhams, divided into 3.632 billion shares, with a nominal value of one dirham per share. And in 2019.

The bank’s profits increased to 2.6 billion dirhams, compared to 2.5 billion dirhams in 2018, an increase of 4 percent. The bank’s revenues increased in the previous year to 5.915 billion dirhams, compared to 5.77 billion dirhams in 2018.

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The bank’s net profit in 2019 increased by 4 percent By the end of 2019, it will reach 2.6 billion dirhams, compared to 2.5 billion dirhams in the year before.

In March of 2019, the bank’s general assembly approved Cash dividend Shareholders have 27.38 percent, or 27.38 fils per share of capital, with a value of approximately 994.44 million dirhams.

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