FAB shareholders approve cash dividends of AED 8.08 billion for the full year 2020

FAB shareholders approve cash dividends of AED 8.08 billion for the full year 2020

Abu Dhabi: First Abu Dhabi Bank (FAB), the UAE's largest bank and one of the world's largest and safest financial institutions, has approved the distribution of 74% cash dividends (AED 0.74 per share, implying total cash dividends of AED 8.08 billion) for the financial year ended 31 December 2020, after concluding its General Assembly Meeting (GAM) today. Owners of FAB shares registered on Wednesday 10 March, 2021 (i.e. buyers on 08 March, 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 31 December 2020.Hana Al Rostamani, Group Chief Executive Officer at FAB, said: “FAB showed strength, resilience and transformation in 2020. In difficult times, we were there for our customers, employees, and communities, and quickly adapted to new market dynamics. We also strengthened our position as the leading and most profitable bank in the UAE, delivering a full year 2020 Net Profit of AED 10.6 Billion. We will continue to build on that momentum and our expertise to accelerate our digital transformation and meet our customers' evolving needs through agility and