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ADIB’s general assembly nods to 2022 dividends

ADIB’s general assembly nods to 2022 dividends
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Abu Dhabi – Mubasher: The general assembly meeting of Abu Dhabi Islamic Bank (ADIB) greenlighted AED 1.77 billion in cash dividends for 2022, equivalent to 49.20% of the lender’s profits.

The UAE bank will pay out a dividend of 48.98 fils per share, higher than the 31 fils per share distributed in 2021, according to a press release.

It is worth noting that the shareholders granted their approval for the 2022 dividends on 7 March 2023.

Nasser Al Awadhi, Group CEO of ADIB, noted: "The announcement of cash dividends totaling AED 1.77 billion for 2022 is a testament to ADIB's unwavering commitment to creating long-term sustainable value for our shareholders.”

Al Awadhi continued: “Our commitment to sustainable banking practices and digital transformation, combined with the hard work and dedication of our team members, has driven our strong financial performance.”

“We anticipate that the high demand for our digital banking services will continue to grow in 2023, allowing us to further enhance our digital capabilities and provide unparalleled banking solutions to our valued customers,” he concluded.

In 2022, ADIB generated net profits after Zakat and tax attributable to the shareholders worth AED 3.58 billion, a 54% year-on-year (YoY) hike from AED 2.32 billion.