CBD, Mashreq approve dividends

Commercial Bank of Dubai (CBD) and Mashreq bank held their Annual General Assembly meetings on Wednesday where the banks’ shareholders approved dividends for the 2013 financial year.

A statement sent to Dubai Financial Market by CBD said its shareholders approved distribution of Dh612 million or 30 per cent cash dividend and bonus share distribution of Dh204 million, 10 per cent of the capital.

Commercial Bank said shareholders registered on Sunday, March 16, 2014, would be eligible for cash dividends and bonus shares for the year 2013.

Mashreq said in a statement sent to Dubai bourse that its AGM approved Board of Director’s proposal to distribute 40 per cent cash dividend.

On Abu Dhabi Stock Exchange, United Arab Bank (UAB) said in a statement that the Central Bank had approved a cash dividend of Dh149.5 million or 15% of the paid-up share capital and a share dividend of Dh149.5million or 15% of the paid-up share capital. This is as per the proposal of the bank’s Annual General Assembly (AGA) which was held on Monday, 3 March 2014 and chaired by Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors.

The record date for the entitlement to the dividend was set as Thursday, 13 March 2014. The dividend cheques will be sent to shareholders by registered post within 30 days from the AGA date.

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