Abu Dhabi – Mubasher: First Gulf Bank’s shareholders agreed on Sunday on paying cash dividends at 100% of its capital or AED 1 ($0.27) per share, totalling AED 4.5 billion ($1.225 billion), for the fiscal year 2015.
The dividend eligibility will be for shareholders registered by 16 March, according to a bourse filing.
The Abu Dhabi-based bank earlier approved cash dividends at AED I ($0.27) per share and bonus shares at 15.38% for the fiscal year 2014.
The bank’s ordinary general meeting (OGM) adopted the report of its board of directors on the bank’s business and its financial position in 2015, as well as the balance sheet and the profit and loss account.
“Despite challenges faced by the local economy and hard operating circumstances, the bank recorded a rise in its profit for the 16th year in a row,” the bank’s managing director, Abdul Hamid Saeed, said during the OGM.
The bank’s net profit rose in 2015 by 6% year-on-year to AED 6.01 billion $1.636 million).
According to figures by Mubasher, the bank distributed cash dividends at AED 3 billion ($816.78 million) for the fiscal year 2013, and AED 2.5 billion ($680.651 million) for 2012.
