Abu Dhabi Ship Building posts Dhs114.39m net profit

Abu Dhabi Ship Building has reported a net profit of Dhs114.39m on revenues of over Dhs1.16bn for 2009. ADSB's Board has announced that it will recommend to the shareholders to approve the payment of a 10% cash dividend (10 fils per share) to the shareholders of record, ten days after the Annual General Meeting. ADSB is 40% owned by Mubadala Development Company, 10% by the Abu Dhabi Government and 50% by several thousand individual UAE national shareholders.