FAB shareholders approve dividends of AED7.64 bn for 2021

FAB shareholders approve dividends of AED7.64 bn for 2021

WAM: First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has approved the dividend distribution of 70% of paid-up capital for the financial year ended 31 December 2021, or AED 0.70 equivalent per share, split into 49 fils in cash and 21 fils in the form of shares in lieu of cash, for a total of AED 7.64 Billion. Owners of FAB shares registered on Thursday 10 March, 2022 (i.e. buyers on 08 March, 2022) are entitled to the dividends.

All items on the agenda were discussed and approved, including FAB’s financial statements for the full year ended 31 December 2021, and the amendment to the Bank’s Articles of Association to increase the share capital to AED 11.05 Billion through the issuance of 127.61 Million new shares, subject to regulatory approvals.