DUBAI, The shareholders of Mashreq Bank have approved to distribute 40 percent of the bank’s paid-up capital as cash dividends for fiscal year 2019.

The distribution of cash dividends stands at AED4.00 per share, amounting to AED710.123 million (US$193.3 million), according to the company’s disclosure to Dubai Financial Market, DFM, on Tuesday.

During the ordinary general meeting, the shareholders have set 19th March as the last trading day, while the distribution date was agreed to be 24th March 2020.

It is noteworthy to mention that in 2019, the bank reported recorded AED2.065 billion net profits, up 0.2 percent from AED2.060 billion in 2018.

Source: Emirates News Agency