FAB approves Dh7.64 billion in dividends for 2021

Abu Dhabi: First Abu Dhabi Bank has approved the dividend distribution of 70 per cent of paid-up capital for the financial year ended December 31, 2021, totalling Dh7.64 billion.

The dividend will be Dh0.70 per share, split into 49 fils in cash and 21 fils in the form of shares in lieu of cash.

Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of FAB, said the lender’s dividend structure “reflects our focus on preserving capital to drive future growth, and is the highest dividend distribution amongst UAE banks”.

“2021 was a year of strong economic rebound despite uncertainties and an uneven global recovery. First Abu Dhabi Bank has achieved a solid performance and has maintained its commitment towards achieving the highest value for its shareholders,” he said.

“As an engine for economic growth, FAB is dedicated to supporting our clients and communities to prosper and thrive in 2022 and beyond. We have generated significant value over the years, and we are deeply committed to sustaining our track record of delivering superior and sustainable shareholder returns over the long term.”

Hana Al Rostamani, group CEO at FAB, said: “FAB’s record performance in 2021 demonstrates the strength of our diversified business and our ability to capitalise on market opportunities in an improving economic backdrop, creating value for all our stakeholders. Our robust foundation and strategic focus position us very well to build on this momentum of sustainable growth and transformation, to strengthen our competitive position in the UAE and our targeted markets, and to create a future-proof bank. As we continue this journey together, I would like to thank our employees, clients, partners, regulators and our shareholders for their continued trust and confidence in FAB.”