Dubai – Mubasher: Commercial Bank of Dubai’s (CBD) board approved on 15 March 20% cash dividends, or 20 fils per share, for fiscal year 2016, according to a bourse statement.
Total dividend payout amounts to AED 561 million for FY16.
The company’s shareholders set the last day to participate in dividends at 22 March.
The shareholders refused to increase the capital by 5% through offering 140.136 million shares for subscription.
The request to allow GCC nationals to own a percentage not exceeding 40% of the bank’s capital was rejected.
The shareholders gave the go-ahead to the update of the bank’s euro medium-term note programme worth $3 billion, and the issue of any bonds thereunder.
The bank’s stock fell 4% to AED 4.80 by 12:30am UAE time, generating AED 2,131 from the exchange of 444 shares.
