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UAE Banks Won't Face Dividend Payout Limits - Paper - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – Banks in the United Arab Emirates would not face restrictions on distributing 2009 profits as bonus dividends as long as they limit cash dividends to 50 percent, the Arabic daily, Al Khaleej reported on Wednesday. Last week, the central bank called on banks in the region to cap cash dividends at 50 percent of their yearly profits.

Sharjah-based Al Khaleej had reported at the time that bonus share payouts would also be limited to 60 percent of 2009 profits.

The newspaper did not provide a source for the information and the UAE central bank was not immediately available for comment.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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