FAB shareholders approve cash dividends of AED5.74 bn, elect new board members at GAM

FAB shareholders approve cash dividends of AED5.74 bn, elect new board members at GAM

ABU DHABI, 28th February (2023) -- First Abu Dhabi Bank (FAB) concluded its General Assembly Meeting (GAM) today at FAB’s HQ in Abu Dhabi. All items on the agenda were discussed and approved including the distribution of 52% cash dividends (AED 0.52 per share, implying total cash dividends of AED5.74 billion) for the financial year ended 31 December 2022.

Owners of FAB shares registered on 10/03/2023 (i.e. buyers on 08/03/2023) are entitled to cash dividends.

The GAM highlighted a year of forward progress on FAB’s Group strategy, expanding its client offering and international representation, enhancing services through digital innovation, and advancing its sustainability agenda in support of the UAE’s ambitions. FAB’s 2022 achievements ensure the Group is strongly positioned to pursue its growth journey moving forward, confident in the resilience of the region, and well-placed to capitalise on opportunities as the Group continues to drive superior and sustainable shareholder returns.

Board elections.

FAB also proceeded with the election of the Board of Directors, including Mariam Mohammed Saeed Hareb Almheiri as the Bank’s first female board member, for the next three-year term:

•Sheikh Tahnoon Bin Zayed Al Nahyan

•Sheikh Mohamed Bin Saif Bin Mohamed Al Nahyan

•Jassim Mohammed Buatabh Al Zaabi

•Dr. Sultan Ahmed Al Jaber

•Sheikh Ahmed Mohd Sultan