Abu Dhabi – Mubasher: The shareholders of Abu Dhabi Ship Building (ADSB) approved on Thursday, 20 April, the board’s recommendation to distribute cash dividends representing 10% of the capital or 10 fils per share for the fiscal year 2016.
The shareholders approved the board’s remuneration of AED 2 million for FY16, according to a filing to the Dubai Financial Market (DFM).
The board’s report on the company's business and financial position, and the auditors' report regarding the consolidated financial statements were also approved.
The company had previously reported a decline of 33.4% in its profits to AED 57.7 million in 2016, compared to AED 86.6 million in 2015.
