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ADCB’s shareholders approve 27% dividends for 2020

ADCB’s shareholders approve 27% dividends for 2020
Abu Dhabi Commercial Bank
ADCB
ADCB
-0.71% 8.34 -0.06

Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Abu Dhabi Commercial Bank (ADCB) has approved distributing cash dividends, equivalent to 27% of the capital, for 2020.

The cash dividends distribution aggregates at a total value of AED 1.878 billion, according to the bank’s disclosure to the Abu Dhabi Securities Exchange (ADX) on Wednesday.

During their meeting, shareholders set 31 March 2021 as the last entitlement date.

Meanwhile, the cash dividends will be paid within one month of the OGM.

It is noteworthy to mention that in 2020, the bank’s net profits attributable to the equity holders declined to AED 3.806 billion, compared to AED 4.789 billion in 2019.