Abu Dhabi - Mubasher: The ordinary general meeting (OGM) of First Abu Dhabi Bank (FAB) has approved a cash dividend distribution, equivalent to 70% of the bank's paid-up capital, for 2021.
The cash dividend payout stands at 70 fils per share, aggregating at a total value of AED 7.64 billion, according to a bourse filing on Wednesday.
The dividend distribution is split into 49 fils in cash and the equivalent of 21 fils in the form of shares of a value of AED 17.97 per share.
Meanwhile, the shareholders have also approved a capital increase to AED 11.04 billion from AED 10.92 billion by issuing 127.61 million new shares.
It is noteworthy to mention that in 2021, FAB reported an about 19% year-on-year (YoY) rise in the net profits attributable to the shareholders to AED 12.531 billion, compared to AED 10.555 billion.
