First Abu Dhabi Bank (FAB) shareholders have approved a record cash dividend of Dh8.3 billion (75 fils per share) for the financial year ending December 31, 2024, marking the largest distribution in the bank’s history.
The decision was ratified at FAB’s Annual General Meeting held on March 11. The dividend represents a payout ratio of approximately 49% of the bank’s net profit for the year, which reached Dh17.1 billion.
Shareholders registered on March 21 2025 — those purchasing shares on or before March 19 — will be eligible to receive the dividend.
FAB reported a 13% year-on-year increase in profit before tax to AED 19.9 billion in 2024, driven by higher client activity and diversified income streams. The return on tangible equity reached 16.8%, in line with the bank’s medium-term targets.
The bank also confirmed that all AGM agenda items were approved, including its 2024 financial statements, the appointment of auditors, and reports by the Board of Directors and the Internal Shari’ah Supervision Committee.
