Dubai – The shareholders of Mashreq Bank have approved to distribute 40% of the bank’s paid-up capital as cash dividends for fiscal year 2019.
The distribution of cash dividends stands at AED 4 per share, amounting to AED 710.123 million ($193.3 million), according to the company’s disclosure to Dubai Financial Market (DFM) on Tuesday.
During the ordinary general meeting (OGM), the shareholders have set 19 March as the last trading day, while the distribution date was agreed to be 24 March 2020.
It is noteworthy to mention that in 2019, the bank reported recorded AED 2.065 billion net profits, up 0.2% from AED 2.060 billion in 2018.
Source: Mubasher
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