“Bank of Sharjah” obtained regulatory approvals from the Central Bank of the United Arab Emirates and the Abu Dhabi Securities Exchange to issue bonus shares worth 100 million dirhams (4.76%).
Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, said: “We have proposed the issuance of bonus shares of AED 100 million, in recognition of the strength of our business and our fundamental profitability even in the face of the unprecedented challenges we have witnessed recently. Therefore, we are pleased to have the approval of the Central Bank and the Abu Dhabi Securities Exchange in addition to our shareholders, this allows us to move forward with our initiative and reward our loyal investors. Going forward, we will continue to focus on achieving operational excellence by relying on our market-leading products and services, in order to enhance our profitability and thus continue to create value for our valued shareholders.”
After all required approvals have been obtained, the value of the bonus shares will be paid to the eligible shareholders on the record closing date, as on June 13, 2021.