NATIONAL BANK OF ABU DHABI
NBAD approves distribution of 10% cash dividends and 10% bonus shares
Abu Dhabi. Monday, 15 March 2010
At its Annual General Meeting held in Abu Dhabi, the National Bank of Abu Dhabi (NBAD)
approved the distribution of 10% cash dividends and 10% bonus shares to shareholders listed
in the share register held with Abu Dhabi Securities Exchange (ADX) as at 25 March 2010.
The meeting was convened under the chairmanship of Mr. Nasser Ahmed Khalifa Alsowaidi,
Chairman of the NBAD Board, to review and approve the directors’ report, auditor’s report and
the financial statements for the year ending 31 December 2009.
The chairman announced the appointments of Mr Matar Hamdan Al Ameri and Mr David Beau
to the board as independent directors. These appointments further confirm NBAD’s commitment
to the principles of transparency and corporate governance.
An independent director’s role is to provide assurance of the company’s ethics performance and
enhances the credibility of the information provided to stakeholders.
Addressing NBAD’s shareholders, Mr. Nasser Ahmed Khalifa Alsowaidi said: "I am pleased with
NBAD’s profits which were achieved in extremely challenging local and international operating
conditions. The Group’s business model and its businesses once again proved their resilience.”
In attendance at the AGM, NBAD's Chief Executive, Michael H. Tomalin, said "Although our net
profits in 2009 appear to be flat, operating profits increased 18.2% and we have increased
capital, invested in the business, grown the Bank and built substantial provisions against the
future. This puts NBAD in the best possible position to withstand the challenges that might lie
ahead of us in 2010 and beyond on our journey to becoming NBAD the number one Arab bank".
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