Emirates NBD approves 40% dividend

UAE lender Emirates NBD passed a cash dividend of 40 fils per share at its annual general meeting yesterday.

Company chairman H.H. Sheikh Ahmed Bin Saeed Al Maktoum said the private sector economy remained resilient in 2015.

“The UAE private sector economy has remained resilient in 2015, and with new projects being planned, from theme parks, hotels and infrastructure in the run up to Expo 2020, we can anticipate further healthy growth,” he said.

Last month the bank announced a 39 per cent increase in net profit for 2015 to Dhs 7.1bn and a 5 per cent increase in income to Dhs 15.2bn.

“Despite a more challenging year for regional liquidity, the Bank’s balance sheet remains strong due to further improvements in credit quality, strong structural liquidity and robust capital ratios,” said Sheikh Ahmed.