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27/02/2018 05:57 AST
First Abu Dhabi Bank (FAB), one of the world's largest financial institutions based in the UAE capital, is set to distribute 70 per cent cash dividends worth Dh7.6 billion ($2.1 billion) to its shareholders for 2017, up 11 per cent compared to the previous year.
Announcing this at the annual general assembly meeting held at FAB's head office in Abu Dhabi, Group CEO Abdulhamid Saeed said: "2017 was a solid first year for the bank, with its resilient performance reflecting the strategic rationale of the merger, as well as the trust and confidence our shareholders have in us."
"In line with our commitment to maximise shareholder value and deliver top returns, we are very pleased to announce the distribution of 70 per cent cash dividends, totalling Dh7.6 billion. Up by 11 per cent compared to 2016, this is the highest dividend amount distributed by the legacy banks historically," remarked Saeed.
The dividends equal to Dh 0.70 per share will be only given to registered, entitled shareholders for the financial year ended December 31, 2017, he stated.
"Owners of FAB shares registered on March 7, 2018 (i.e. buyers on March 5, 2018) are entitled to cash dividends," he added.
Trade Arabia
01/04/2018
First Gulf Properties, the real estate service provider and a wholly-owned subsidiary of the First Abu Dhabi Bank (FAB), has changed its name to "FAB Properties."
It manages a diversified
Trade Arabia
21/03/2018
First Abu Dhabi Bank (FAB), the UAE's largest bank and one of the world's largest financial institutions, has secured a licence from the Saudi Arabia Monetary Authority (Sama) to establish a commerci
Trade Arabia
20/03/2018
First Abu Dhabi Bank (FAB) has refuted allegations that it had conducted any transaction with the intent to manipulate the Qatari riyal.
In a statement, FAB said: "Following recent media
Trade Arabia
| Ticker | Price | Volume |
|---|---|---|
| NORTHERNCEMENT | 9.08 | 408,768 |
| ALHOKAIRGROUP | 2.83 | 4,933,955 |
| SINADHOLDING | 14.44 | 168,505 |
| TAIBA | 47.05 | 163,726 |
| ALAMAN | 0.00 | 0 |
| HMCI | 1.25 | 0 |
| NCC | 2.47 | 0 |
| Ticker | Price | Change |
|---|---|---|
| IHC | 407.00 | -5.90 (-1.43 |
| EMIRATESNBD | 20.35 | 0.10 (0.49 |
| DIB | 6.28 | 0.08 (1.29 |
| ADCB | 8.68 | 0.00 (0.00 |
| MASQ | 221.00 | 0.00 (0.00 |
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The National
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One of the fastest-growing logistics businesses in Mena region, GWC has marked "20 years of excellence and innovation", achieved significant milestones and won prestigious awards, solidifying its pos
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Financial Information Co.