This is the first payment in what is expected to be a full-year 2021 dividend payment of Dhs2.57bn
The merger is expected to complete before the end of this year
Damac traded below the Dhs1.3 per share offer price on Wednesday
The Kuwait Banking Association said in June that there would be no distribution of dividends to shareholders for 2020
The decision reversed efforts sought by a minority group of shareholders to restructure and save the company from liquidation
The new bank will have total assets of more than $220bn, creating the Gulf region’s third-largest lender
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