National Bank of Fujairah approves dividend 41.4% of net profit

27/03/2017 05:46 AST

National Bank of Fujairah said their shareholders approved the distribution of profits of 15 per cent of paid-up capital. This took the form of cash dividends of 7.5 per cent or Dh95.3 million and bonus shares of 7.5 per cent or Dh95.3 million of paid-up capital.

The bank’s shareholders also approved the chairman’s and directors’ reports, the bank said in an emailed statement.

The Board of Directors’ remuneration proposal of 0.65 per cent of the net profit, after deducting all depreciation and reserves, for its members was also approved. Additionally, the Board of Directors were elected for the next three years.


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