ADIB shareholders give nod to Dhs3.030 billion cash dividend

Abu Dhabi Islamic Bank (ADIB) shareholders, during the Annual General Assembly (AGM), discussed and approved all agenda items, including the election of Board of Directors for a new term and the distribution of a cash dividend of 83 fils per share or 83 per cent of capital, representing a total payout of Dhs3.030 billion equivalent to 50 per cent of 2024 net profit, marking an increase from 71 fils per share in 2023.

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In addition to approving the dividend payout, the AGM highlighted ADIB’s strong business momentum, its outstanding performance in 2024, and its solid platform for future growth.

ADIB reported a net profit before tax for 2024 of Dhs6.9 billion, marking a 26 per cent increase from last year. The strong balance sheet growth, coupled with increased business momentum and diversified revenue growth, has fuelled the bank’s exceptional financial performance. Net profit after tax for 2024 stood at Dhs6.1 billion, reflecting a 16 per cent increase compared to the full year 2023.

During the meeting, shareholders elected the Board of directors and approved the board of directors’ report, the auditors’ report and the financial statements for the year 2024.

Serving a three-year term, the elected Board of Directors comprises: Jawaan Awaidha Al Khaili, Dr. Faisal Sultan Al-Shuaibi, Khalifa Matar Al-Mheiri, Abdulla Ali Musleh Al Ahbabi, Najib Youssef Fayyad, Abdul Wahab Al-Halabi, and Maha Al Qattan.