Thursday 23 March 2023

Air Arabia set to distribute 15% cash dividends for 2022

SHARJAH, 8 days ago

Sharjah-based budget carrier Air Arabia has announced that it has won approval from its shareholders at the company’s Annual General Meeting (AGM) for the distribution of 15% cash dividend for the financial year ending December 31, 2022. 
The dividend, which is equivalent to 15 fils per share, reflects another year of record financial performance for the award-winning low-cost carrier.
The board of directors’ recommendation follows the airline’s robust financial performance in the year ending December 31, 2022, where Air Arabia reported a record net profit of AED1.2 billion ($327 million), up 70% over the year before.
At the AGM, the report of Air Arabia’s auditors balance sheet, as well as profit and loss accounts for the year ending December 31, 2022 were also approved by the assembly.
Furthermore, the board of directors and auditors of the company were discharged from liability for the financial year ending December 31, 2022, while auditors for the next fiscal year were appointed and their remuneration fixed. The assembly also elected the board of directors for the next three years.
Chairman Sheikh Abdullah Bin Mohammed Al Thani said: "This year’s outstanding performance is a testament to Air Arabia Group’s employees’ dedication and to our shareholders’ continued trust. The 2022 profitability is considered the best in Air Arabia Group’s operating history and reflects our robust business model and perceptive growth strategy."
"We are committed to continuing our excellent achievements and to driving operational efficiency across our business," he added.-TradeArabia News Service


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