Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Sharjah Islamic Bank approved the board’s recommendation to distribute a bonus share dividend representing 10% of capital for 2016.

Dividends will total AED 242.55 million, according to a bourse statement released Sunday.

The OGM held Saturday also approved the capital increase to AED 2.668 billion from AED 2.425 billion, as well as the amendment of some articles of association.

Sharjah Islamic Bank reported AED 462.89 million in profits for 2016, up 12.9% from AED 409.93 million in 2015.

The bank’s OGM had approved a cash dividend to shareholders for 2015 at 10 fils per share, totalling AED 242.5 million.