The chief executive of Sharjah Islamic Bank, Mohammed Abdullah, has said the lender will split its dividend to 5% cash and 5% stock rather than cut a previously proposed 10% cash dividend, Reuters has reported. The move is in an effort to abide by recently issued central bank guidelines that put a cap on cash dividends to 50% of annual profits, he said. The full cash dividend would have constituted 88% of the lender's profit.
Subscribe to MEED to receive your choice of premium newsletters
 |
 |
 |
 |
Identify and track projects across the Middle East and North Africa through MEED Projects. Subscribers can track projects, conduct trend analysis, forecast, produce strategic reports and ultimately win new business.
Middle East data, research and analysis - from broad macroeconomic statistics to specific sector data, MEED Insight can help you accurately and cost effectively forecast market growth and trends.
MEED Events provide high profile speakers, relevant and critical business content and the latest news from across the GCC. With a portfolio that includes large-scale summits, two-day industry specific conferences and unique networking opportunities.
Site powered by Webvision
Share
