Dubai – Mubasher: Ajman Bank on Sunday announced amending the board of directors’ recommendation to distribute a 3.5% cash dividend for the full fiscal year of 2018, instead of 4%.
After the adjustment, the UAE-based lender will distribute 3.5 fils per each share, according to a statement to the Dubai Financial Market (DFM).
The DFM-listed bank’s distributions are expected to total AED 73.3 million dividends, according to Mubasher’s statistics.
Ajman Bank last reported a 32% year-on-year profit growth during the fourth quarter of 2018, recording AED 50.2 million, compared to AED 38.1 million.
The Emirati lender’s earnings levelled up 28% to AED 170 million by the end of 2018, from AED 132.6 million during 2017.
