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CBD’s board recommends 20.7% cash dividend

CBD’s board recommends 20.7% cash dividend
The distribution of a cash dividend stands at 20.7 fils per share
CBD
CBD
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UAE – Mubasher: The board of Commercial Bank of Dubai (CBD) has proposed to distribute 20.7% of the bank’s paid-up capital as a cash dividend, according to the bank’s disclosure to Dubai Financial Market (DFM) on Monday.

The distribution of a cash dividend stands at 20.7 fils per share, aggregating an amount of AED 580 million ($157.8 million).

It is noteworthy to mention that in 2019, the bank reported a 20.5% year-on-year (YoY) hike in net profits to AED 1.4 billion in 2019, compared to AED 1.162 billion in 2018.