Abu Dhabi – Mubasher: Sharjah Islamic Bank (NBS) announced that its ordinary general meeting (OGM) has approved a proposal to distribute an 8% cash dividends to shareholders for 2018.

The approved dividends amount to AED 0.08 per share or a total of AED 234.8 million, according to the bank’s statement to the Abu Dhabi Securities Exchange (ADX).

The UAE-based lender set 23 March 2019 as the due date for the dividend payouts.

Sharjah Islamic Bank reported a 7% year-on-year increase in its profits for the full year 2018, recording AED 510.3 million.

By 12:04 pm UAE time, Sharjah Islamic Bank's stock stood at AED 1.20.