May 26, 2022

RAKBank shareholders approve cash dividend of 22.5% at AGM

RAKBank successfully concluded its annual general meeting (AGM) today through both electronic and in-person participation, where the shareholders approved the cash dividend of 22.5 per cent (22.5 fils per share) of the bank’s paid-up capital amounting Dh377.1 million, for the financial year ended December 31, 21. The dividend distribution will result in approximately 49.7 per cent of group’s net profit being paid out.

Participating shareholders approved all agenda items and resolutions including the bank’s consolidated balance sheet and profit and loss statements for the financial year ended December 31, 2021. Additionally, during the AGM, the appointment of Stephen Robert Monaghan as a board member was ratified.