RAKBANK shareholders approve a cash dividend of 22.5 percent (22.5 fils per share) of the bank’s paid-up capital, a total of Dh377.1 million for the financial year ending December 31, 2021, at its annual general meeting (AGM).
The dividend distribution will result in approximately 49.7 per cent of the group’s net profit being paid out.
Participating shareholders approved all agenda items and resolutions including the bank’s consolidated balance sheet and profit and loss statements for the financial year ended December 31, 2021.
It is noteworthy to mention that in 2021, RAKBANK recorded a 50% year-on-year (YoY) rise in net profits to AED 758.3 million, compared to AED 505.4 million.
Also, the appointment of Stephen Robert Monaghan as a board member was ratified during the meeting.
