FAB okays AED8.08b cash dividend for 2020

ABU DHABI / WAM

First Abu Dhabi Bank (FAB) has approved the distribution of 74 percent cash dividends (AED 0.74 per share, implying total cash dividends of AED8.08 billion) for the financial year ended on December 31, 2020, after concluding its General Assembly Meeting (GAM) on Sunday. Registered owners of FAB shares as on March 10, 2021 (i.e. buyers on March 08, 2021) are entitled to cash dividends.
All items on the agenda for the GAM were discussed and approved, including the appointment of André Sayegh as a new board member. Shareholders also approved FAB’s financial statements for the year ended on December 31, 2020. HH Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman of FAB, said: “FAB’s position as the UAE’s safest and strongest bank enabled us to power economic growth, provide significant support to communities, and maximise returns to shareholders.”

“I am proud of what we achieved against the challenging backdrop of 2020, as we made significant progress on our strategic agenda and delivered on our promise to create value for all stakeholders. We are pleased to announce the distribution of 74 percent cash dividends, totalling AED 8.08 billion for the year 2020.”

H.H. Sheikh Tahnoon Bin Zayed Al Nahyan said: “The appointment of Hana Al Rostamani as FAB Group CEO is a historic milestone both for FAB and for the industry, and symbolises the UAE leadership’s vision and commitment to embracing our nation’s great potential. As we enter a new dynamic era, I look forward to working with Hana to deliver the opportunities in front us, and powering lasting prosperity for future generations.”