ADIB shareholders approve dividend of 49 fils per share for 2022

ADIB shareholders approve dividend of 49 fils per share for 2022

ABU DHABI, 7th March, 2023 (WAM) -- Abu Dhabi Islamic Bank (ADIB) has announced that its General Assembly has approved a cash dividend of AED1.7 billion, 49 fils per share for the fiscal year ending 31st December, 2022.

This represents an increase from 31 fils per share in 2021 and constitutes 49.2 percent of the bank's net profit for the year. In addition, ADIB delivered a Return on Equity (ROE) of 21.4 percent, one of the highest rates in the sector, reflecting the bank's solid momentum across its core businesses and an improved macroeconomic environment.

During the meeting, the ADIB General Assembly also approved the Board of Directors' report, the auditors' report, and the financial statements for the year 2022.

Commenting on the bank's performance, Jawaan Awaidha Suhail Al Khaili, ADIB's Chairman, said, “We would like to extend our sincere appreciation to our shareholders for their continued support and trust in our vision. We are also proud of our firm commitment to the ESG agenda within our strategic business plan for the next five years, coinciding with the UAE declaring the Year of Sustainability, as we see a real integration of sustainability at all levels in our business. We look forward to working