NBAD increases cash dividend to AED0.45 from AED0.40
According to Bloomberg, NBAD’s board has decided to increase the cash dividend for 2015 to AED0.45/share (pay-out 47%) from AED0.40/share (pay-out 41%) in an AGM which was held in Abu Dhabi yesterday. This translates into a dividend yield of 5.2% versus 4.6% earlier. We believe the bank is adequately capitalised (Tier 1: 15.7%) and liquid (LDR: NBAD – 88%; sector – 94%) to pay this dividend. (Shabbir Malik, Bloomberg)
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