Dubai-Mubasher: Dubai Islamic Bank’s (DIB) shareholders approved 45% cash dividends or 45 fils per share for the fiscal year 2015, a payout amounting to AED 1.776 billion ($483.535 million), according to a recent bourse statement.
During their meeting on Tuesday, shareholders gave the go-ahead to raise the paid-up capital to a maximum of AED 988.43 million ($269.110 million) through the issuance of new shares up to 988.43 million at a nominal value of AED 1 per share.
The shareholders ratified an increase of the ceiling of non-convertible sharia-compliant hyprid tier 1 capital instruments by $750 million, which will take the total tier 1 capital to $2.75 billion.
The bank’s stock declined 0.16% to AED 6.24 in Wednesday's early trades.
