Dubai – Mubasher: Dubai Islamic Bank (DIB) on Thursday announced that its shareholders had approved distributing a cash dividend of 35% of the share’s nominal value, or 35 fils per share, for 2018 during an ordinary general meeting (OGM).
The OGM approved total cash dividends of AED 2.301 billion, according to statistics conducted by Mubasher.
The Dubai-based lender’s capital reaches AED 6.589 billion, distributed over 6.589 billion shares, with a nominal value of AED 1 a share.
DIB’s OGM also approved authorising the board of directors to issue senior sukuk or similar debt instruments which are non-convertible into shares with a total value of $5 billion.
In January, the Dubai-based lender reported an 11 % year-on-year profit increase to AED 5 billion in 2018, from AED 4.5 billion a year earlier.
By 12:23 pm UAE time, DIB’s stock fell 1.15% to AED 5.17.
