#UAE's largest bank approves $2.1bn cash dividends for 2019 - Arabianbusiness

UAE's largest bank approves $2.1bn cash dividends for 2019 - Arabianbusiness:

First Abu Dhabi Bank, the UAE's largest bank, has approved the distribution of cash dividends of more than AED8 billion ($2.1 billion) for the financial year ending December 31.

Its general assembly meeting in Abu Dhabi approved the distribution of 74 percent cash dividends, implying total cash dividends of AED8.08 billion.

The meeting also saw the election of new board members, increasing the size of FAB's board from nine to 11 members.

Jassim Mohammed Buatabh Al Zaabi and Dr Sultan bin Ahmad Sultan Al Jaber, Waleed Al Mokarrab Al Muhairi and Abdulhamid Saeed were named as the new members joining the board for a three-year term.

Leaving the board after completing their terms are Khaldoon Khalifa Al Mubarak and Nasser Ahmed Khalifa Ahmed Alsowaidi, a FAB statement noted.