Dubai – Mubasher: The Commercial Bank of Dubai’s (CBD) annual general assembly meeting (AGM) has approved the distribution of AED 1.32 billion in cash dividends for 2023.

The approved amount is equivalent to 50% of the bank’s net profit last year, and 44.38% of paid-up capital as of 31 December, according to a bourse filing.

The last date for dividend entitlement will be on 14 March 2024. Eligibility will be for shareholders registered on 18 March.

Bonds Programme

The AGM also approved renewing the $3 billion Euro Medium Term Note Programme to issue bonds non-convertible to shares.

It is worth noting the CBD reported net profits of AED 2.65 billion in 2023, a 45.20% jump from AED 1.82 billion in 2022.