Dubai - Mubasher: The shareholders of Mashreq Bank approved the distribution of AED 1.80 billion as cash dividends, equivalent to 90% of the lender's paid-up capital, for 2022.

The DFM-listed bank will disburse a dividend of AED 9 per share, according to a bourse disclosure.

Meanwhile, the shareholders greenlighted the cash dividends during their annual general meeting (AGM) that was held on 22 February 2023.

In 2022, the UAE lender recorded net profits attributable to the shareholders worth AED 3.70 billion, higher by 269.80% than AED 1 billion during the 12-month period that ended on 31 December 2021.

Earnings per share (EPS) widened to AED 18.48 last year from AED 5 in 2021, whereas the operating income surged by 29.10% to AED 7.49 billion from AED 5.80 billion.