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ADCB’s general assembly nods to 2022 dividends

ADCB’s general assembly nods to 2022 dividends
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Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) obtained the approval of the general assembly meeting to pay dividends amounting to AED 3.82 billion, equivalent to 55 fils per share, for 2022.

The shareholders greenlighted cash dividends valued at AED 1.25 billion or 18 fils per share as well as stock dividends worth AED 2.57 billion or 37 fils per share, according to a bourse filing.

Meanwhile, the announced cash dividends represent 18% of the bank’s capital.

In 2022, ADCB reported a 23% growth in net profit attributable to the owners to AED 6.43 billion, compared to AED 5.24 billion a year earlier.

The operating income surged by 17% to AED 14.34 billion last year from AED 12.25 billion as of 31 December 2021, whereas the basic and diluted earnings per share (EPS) rose to AED 0.90 from AED 0.73.