Dubai Islamic Bank (DIB) fell for the third time after the UAE's largest Sharia-compliant lender said it will cut its dividend payment in accordance with Central Bank advice.
The DIB shares declined 1.4 per cent to Dh2.19 in Dubai. The benchmark DFM General Index dropped 1.64 per cent. The dividend for last year will be 10 fils a share instead of the 15 fils the bank proposed last month, it said in a statement to Nasdaq Dubai yesterday.
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