ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash dividend of US$0.15 (AED0.56) per share, translating to a total pay-out of US$1.1 billion (AED4.099 billion) equivalent to 50 percent of its 2023 net profit.
This came as the ADCB on Thursday held its physical-cum-virtual 40th Annual General Assembly which was chaired by Khaldoon Khalifa Al Mubarak, Chairman of the Board of Directors, in the presence of the Board Members.
Earlier in January, ADCB received an in-principle approval from Saudi Arabia’s Council of Ministers and will open a branch in Riyadh, subject to final regulatory approvals.
The bank will provide a comprehensive range of services for corporate and institutional clients, including financing and working capital solutions, mandated by a Foreign Banking Branch license issued by the Saudi Central Bank (SAMA).
