Air Arabia Co. AIRARABIA

0.99 0.01 1.02 %

Air Arabia shareholders approve 10% cash dividend

(3/14/2018 5:52:00 AM)

Air Arabia’s shareholders on Tuesday approved the distribution of a 10 per cent cash dividend for the 2017 financial year during the company’s annual general meeting.

The dividend, which is equivalent to 10 fils per share, comes after the budget carrier reported Dh662 million in net profit for 2017, marking a 30 per cent jump year-on-year as the airline grew its network and cut costs.

At the annual general meeting, Air Arabia said it is “strongly poised to overcome any future challenges.”

Gulf News