First Abu Dhabi shareholders agree to distribute 8.08 billion dirhams in cash dividends for 2020
The bank allowed shareholders to attend the general assembly in person or virtually.
From the source
Yesterday, First Abu Dhabi Bank concluded its General Assembly meeting by approving a cash dividend of 74% (equivalent to 74 fils per share, with a total cash dividend of AED 8.08 billion) for the fiscal year ending on December 31, 2020.
A statement issued yesterday stated that the owners of the bank’s shares registered on Wednesday 10 March 2021 (meaning buyers on March 8, 2021) are entitled to cash dividends.
His Highness Sheikh Tahnoun bin Zayed Al Nahyan, Chairman of the Board of Directors of First Abu Dhabi Bank, said: “The position enjoyed by First Abu Dhabi Bank, being the strongest and safest in the UAE, has allowed us to strengthen our role in support of the national development process at the economic and social levels, in conjunction with achieving Best value for its shareholders. ”
He added, "We accomplished a lot in terms of our strategic agenda, and continued our commitment to our shareholders. Therefore, we are pleased to announce the distribution of cash dividends for the fiscal year 2020 at 74% of the capital, totaling 8.08 billion dirhams."
His Highness added: “The appointment of Hana Al Rostamani as CEO of the First Abu Dhabi Bank Group represents a historic achievement in the bank’s journey, and the banking sector in general, and an embodiment of the UAE leadership visions aimed at activating the role of national cadres in various sectors and at all levels.”
For her part, Chief Executive Officer of First Abu Dhabi Bank Group, Hana Al Rostamani, said that the bank showed during the year 2020 flexibility in performance, achieved strength in results and an ability to adapt to changes, and in light of the emerging challenges we were able to support our customers, employees and the communities in which we operate, through We have adapted to changing market conditions.
She added, "Nevertheless, the bank was able to consolidate its position as the most profitable in the UAE banks, with a net profit of 10.6 billion dirhams for the year 2020."
The bank’s statement pointed out that in the interest of adherence to the highest safety standards in light of the "Covid-19" pandemic, shareholders had the opportunity to attend the General Assembly meeting in person or virtually via the Internet.
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