Wednesday, Mar 13, 2013
Abu Dhabi: The National Bank of Abu Dhabi’s (NBAD) annual general meeting (AGM), held on Tuesday in Abu Dhabi, approved the distribution of cash dividend of 35 per cent and stock dividend of 10 per cent for the financial year ended December 31, 2012. The meeting, convened under the chairmanship of Nasser Ahmad Khalifa Alsowaidi, the Chairman of the NBAD Board, reviewed and approved the directors’ report, auditor’s report and the financial statements for the year ending 31 December 2012. The Extraordinary General Meeting (EGM), convened after the AGM, approved the issuance of a convertible bond of up to a principal amount of $500 million and increase the size of three existing programs. The EGM has approved increasing the size of the Bank’s existing EMTN Programme from $ 5 billion to $ 7.5 billion; Malaysian Ringgit Programme from MYR 3 billion to MYR 5 billion; and Japanese Samurai Programme from Yen 40 billion to Yen 150 billion.
Staff Report
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