Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Abu Dhabi-listed Sharjah Islamic Bank has approved a 10% cash dividend to shareholders. The dividend, amounting to AED 0.10 per share, totals AED 242.6 million.

The last day to take part in the distribution is March 8, while the dividends will be distributed on March 28.

The bank’s capital amounts to AED 2.425 billion at par value AED 1 per share.

Sharjah Islamic Bank reported a net profit of AED 377.2 million ($102.693 million) in 2014 compared to AED 307.1 million ($83.61 million) in 2013, registering a profit increase by 23%.

Financials for the fourth quarter of 2014 showed a net profit decline by 4.4% to AED 82.2 million against AED 86 million the same period the year before.

Worth noting, the OGM approved the same dividend in 2013, representing 10% of capital at AED 0.10 per share.