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DIB approves 12.5% cash dividend
DUBAI - Following the conclusion of its Annual General Meeting, Dubai Islamic Bank (DIB) announced that the assembly has approved the distribution of a 12.5 per cent cash dividend for the year 2011, with the concurrence of the Central Bank of the UAE.
During the AGM, the bank’s 2011 financial results were also approved. For the 12 months ending December 31, 2011, DIB reported a net profit of Dh1.01 billion. In addition, the assembly reviewed the Fatwa and Sharia Supervisory Board Report, and reappointed Deloitte as the bank’s external auditors.
Mohammed Ibrahim Al Shaibani, Director-General of Dubai Ruler’s Court and chairman of Dubai Islamic Bank, 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.”
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