Dubai – Mubasher: Mashreq Bank on Wednesday announced that its general assembly has approved a cash dividend distribution of 40%, or AED 4 per share, of the paid-up capital for 2018.

The UAE-based lender will distribute a total of AED 710.1 million, according to a filing to the Dubai Financial Market (DFM).

The maturity of distribution will be on 10 March, the bank noted.

It is worth noting that the bank posted a 0.4% year-on-year increase in its profits for the full-year 2018, recording AED 2.1 billion.

During the first nine months of 2018, the bank achieved AED 1.7 billion ($460 million) in net profits, up 5% year-on-year, while operating income grew 3.6% to AED 4.6 billion.