DIB stock tops gainers on FY15 financials

Dubai-Mubasher: Dubai Islamic Bank’s (DIB) stock was the best performer in Wednesday’s mid-session, backed by its positive financials and dividends for the fiscal year 2015.

The stock reached AED 5.52 by 12:30pm UAE time after rising 5.14%, achieving the biggest gains since 21 December 2015.

Trading on stock reached 6.3 million shares through 263 transactions, generating AED 34.96 million.

DIB’s board recommended a 45% cash dividend or 45 fils per share for the fiscal year 2015, according to a bourse filing on Wednesday.

The bank reported a 37% growth in net profits to AED 3.84 billion ($1.04 billion) in the fiscal year 2015, compared to AED 2.80 billion ($763 million) in the fiscal year 2014.