Abu Dhabi – Mubasher: National Bank of Fujairah (NBF) shareholders endorsed on Wednesday the board’s proposal for paying dividends at 15% of capital, the bank said in a bourse filing.
The 15% distribution, equal to AED 177.4 million, will be divided equally into cash dividends and bonus shares.
The approved dividends account for 31.7% of the lender’s total earnings for FY15.
NBF earlier distributed cash dividends and bonus shares for FY14 at 15% of capital.
The bank’s FY15 net profit amounted to AED 559 million ($152.11 million), compared with AED 505.4 million ($137.659 million) a year earlier.
Following the bonus issue, NBF’s capital will increase to AED 1.271 billion from AED 1.182 billion.
The bank noted that the payment and record dates for the dividends would be 27 March and 23 March respectively.
