By: Mahmoud Gamal

Dubai – Mubasher: Shareholders trading on UAE stock markets are eagerly awaiting several major events, on top of which is the distribution of cash dividends by three companies, whose total dividends combined amount to AED 2.648 billion ($720.8 billion).

Abu Dhabi Commercial Bank’s (ADCB) suggested dividends make up 82.3% of the tripartite, or AED 2.18 billion, with a per-share dividend of AED 0.42, statistics by Mubasher showed.

The Abu Dhabi-listed bank last posted a 3% increase in net profits to AED 4.3 billion in 2017, compared to AED 4.1 billion in 2016.

ADCB’s ordinary general meeting (OGM) will be held on Tuesday to discuss the proposed dividends.

Moreover, Air Arabia’s OGM is scheduled to consider AED 630.6 million in cash dividends, which account for 10% of the Emirati carrier’s capital.

The Dubai-listed company reported a 30% year-on-year growth in net profit during the last four quarters to AED 630.3 million, its biggest profit in five years, after two successive years of declining.

meanwhile, Abu Dhabi Aviation’s OGM will also held a meeting on Tuesday to take its decision concerning the payment of AED 75.61 in dividends, representing 17% of the firm’s capital, with a per-share dividend of AED 0.17.

Translated by: Muhammad Khalid