By: Mahmoud Gamal

Abu Dhabi – Mubasher: Boards of banks listed on the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX) have recommended the distribution of total dividends of AED 17.8 billion for 2017, according to a survey conducted by Mubasher.

According to the survey, 12 ADX-listed banks recommended AED 11.8 billion dividends, while 5 DFM-listed lenders proposed AED 6 billion dividends.

Apart from using dividends to maximise their shareholders’ income, the DFM- and ADX-listed banks announced other instruments to reach that end through increasing capital or issuing shares and bonds, member of the National Advisory Board of Chartered Institute for Securities &Investments (CISI) Wadah Al-Taha commented.

First Abu Dhabi Bank (FAB) ranked first with total recommended dividends of AED 7.63 billion, while Emirates NBD and Dubai Islamic Bank (DIB) came second and third, with proposed dividends of AED 2.22 billion and AED 2.21 billion, respectively.

In addition, banks take such measures to comply with Basel III liquidity requirements, which must be met by all lenders, Al-Taha added.

Translated by: Muhammad Khalid