By: Mahmoud Gamal
Dubai – Mubasher: The investors at the UAE’s stock markets are awaiting cash dividend distributions of four listed companies at a total value of AED 8.6 billion ($2.36 billion) during the week started from 24 February 2018 until 1 March 2018.
First Abu Dhabi Bank (FAB) acquires 88.4% of the upcoming cash dividends, according to Mubasher’s statistics.
The ordinary general meeting (OGM) of the UAE's largest bank by assets will be held on Sunday 25 February for discussing the distribution of AED 7.6 billion in cash dividends or AED 0.70 per share, which represents 70% of the share nominal value.
The lender’s distributions are 11% higher than cash dividends distributed ahead of the merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) in 2016.
Before the consolidation, NBAD’s shareholders approved distributing 45% of the capital in cash dividends for the fiscal year ended 31 December 2016 with a total of AED 2.34 billion ($638.3 million), or AED 0.45 per share.
As for the full year 2017, FAB’s net profits declined to AED 10.92 billion, 2.8% down from AED 11.32 billion a year earlier.
On the other hand, Abu Dhabi National Hotels (ADNH) on Tuesday 27 February will discuss the payment of 15% of the capital or AED 125 million in cash dividends with a dividend per share of 12.5 fils.
Similarly, Ras Al Khaimah Ceramics’s board will discuss the distribution of AED 214.6 million in cash dividends with a dividend per share of AED 0.25, representing 25% of the share nominal value, in addition to considering paying 5% of the capital in bonus share in 1:20 ratio.
On 28 February, Mashreq Bank’s general assembly meeting will discuss distributing cash dividends of AED 710 million with a dividend per share of AED 4, making up 40% of the share nominal value for the fiscal year ended 31 December 2017.
Translated by: Kholoud Mohamed Hussein
