DIB approves 12.5pc cash dividends
Dubai, March 21, 2012
Dubai Islamic Bank (DIB), one of the largest Islamic banks in the UAE, said its board has approved the distribution of 12.5 per cent cash dividends for 2011 to its shareholders.
The DIB announced this at the end of its annual general meeting (AGM) held in Dubai where the board members reviewed the 2011 results and approved it. For the 12 months ending December 31, 2011, DIB had reported a net profit of Dh1.01 billion ($275 million).
In addition, the assembly reviewed the Fatwa and Sharia Supervisory Board Report, and reappointed Deloitte as the bank’s external auditors.
Commenting on the performance, Mohammed Ibrahim Al Shaibani, director-general of His Highness The Ruler’s Court of Dubai and DIB chairman said, “The strong financial results delivered by DIB in 2011 are testament to the bank’s proven business model, robust liquidity position and stable funding base.'
'We are pleased to be able to share our success in 2011 with our shareholders, and look forward to their continued support in 2012 as DIB maintains its prudent focus on diversification and managed growth,' he added.-TradeArabia News Service