Dubai: Air Arabia shareholders approved on Sunday the distribution of a 7 per cent cash dividend — equivalent to seven fils per share — for the full-year 2016.

The approval came during the Sharjah-based airline’s annual general meeting, during which shareholders also approved the financial statement for 2016. Air Arabia recorded Dh509 million in net profit during the year, down from Dh530.6 million in 2015. At the meeting, shareholders elected the board of directors for the coming three years, and appointed auditors for the next year.