Abu Dhabi – Mubasher: National Bank of Ras Al Khaimah (RAK Bank) said its board recommended 30% cash dividends, or 30 fils per share, for the fiscal year 2016, according to a bourse filing.
Total proposed dividends stood at AED 502.8 million for FY16.
RAK Bank reported a 65.4% decline in profits to AED 108.8 million ($29.6 million) in Q4-16, compared to AED 315 million (85.7 million) in Q4-15.
In 2016, profits fell 49% to AED 663 million from AED 1.405 billion recorded in 2015.
