Mubasher: The ordinary general meeting (OGM) of Mashreq Bank approved the board’s recommendation of distributing 40% cash dividends for fiscal year 2016.
Mashreq Bank will pay AED 40 per share, with a total of AED 710.1 million, according to a bourse statement issued on Tuesday.
The bank noted that the maturity date will be 16 March, while the last date of registering will be 14 March.
During FY16, Mashreq reported a decline of 20% in profits to AED 1.93 billion from AED 2.40 billion in FY15.
