Shareholders of the Bank agree to a cash dividend of AED 8.06 billion

25-02-2019 Media in \Abu Dhabi
Abu Dhabi shareholders have agreed to distribute cash dividends of AED 8.06 billion (74% of paid up capital of 74 fils per share) to registered shareholders entitled to dividends for the fiscal year ended 31 December 2018. The registered bank On 7 March 2019 / Buyers on 5 March 2019 get cash dividends.
The Bank’s financial statements for the year ended 31 December 2018 were approved and the proposal to raise the percentage of foreign ownership in the Bank’s shares was approved from 25% to 40% after obtaining regulatory approvals.
The bank plans to open two new branches in Saudi Arabia this year in Al Khobar and Jeddah as part of the bank’s plans to expand abroad, said Andrei Sayegh, executive vice president of Abu Dhabi Group I and head of corporate banking and investment at the bank. End of the General Assembly. To issue bonds worth between $ 2 billion and $ 4 billion in 2019 according to market conditions, noting that the bank has high levels of liquidity.
Abdulhamid Said, Chief Executive Officer of Abu Dhabi First Group, said that a cash dividend of 74 per cent of the capital and a total of AED 8.06 billion, up 6 per cent from last year, was in line with the Bank’s commitment to provide the best returns to shareholders. Is the highest cash return in the UAE, reflecting the Bank’s continued commitment to sustainable growth in shareholder returns.
He added that after the consolidation of the system in the bank we will launch full potential to continue to provide the best value to our shareholders during the year 2019 and the coming years, adding that the decision to raise the proportion of foreign ownership in the bank aims to enhance liquidity and contribute to attract new shareholders and contribute to other innovative initiatives in providing value Greater opportunities for shareholders, customers and employees.