ADCB, Emirates NBD and First Gulf Bank to pay out Dh5bn in dividends

Bank shareholders are to be rewarded with almost Dh8 billion (US$2.17bn) in dividend payouts as lenders look set to eclipse last year's total.

Six of the UAE's biggest lenders have reported dividend payouts worth Dh7.8bn, and with several big banks still to report earnings, that figure could yet rise.

An analysis of last year's dividend payouts show that the entire banking sector paid Dh8.08bn last year, putting lenders on track to exceed that sum this year.

"It's been way beyond expectations," said Talal Touqan, the head of research at AlRamz Securities. "Profitability has got higher and higher as provisions are being reversed."

Read more: http://www.thenational.ae/thenationalconversation/industry-insights/markets/adcb-emirates-nbd-and-first-gulf-bank-to-pay-out-dh5bn-in-dividends#ixzz2JXKsXVdO