January 24, 2018 / 7:30 AM / 8 months ago

BRIEF-Dubai Islamic Bank Board Proposes FY Dividend of 45 Fils/Share

Jan 24 (Reuters) - DUBAI ISLAMIC BANK:

* BOARD PROPOSES CASH DIVIDEND OF 45 FILS PER SHARE FOR 2017

* TO INCREASE CEILING OF NON-CONVERTIBLE SHARI’A COMPLIANT TIER 1 CAPITAL INSTRUMENT IN ACCORDANCE WITH PRINCIPLES OF SHARI’S BY $1 BILLION

* BOARD INSTRUCTS BANK MANAGEMENT TO PREPARE PLAN TO INCREASE ISSUED CAPITAL

* BOARD APPROVES TO ISSUE SENIOR OR SUBORDINATED SUKUK OR SIMILAR INSTRUMENTS NON-CONVERTIBLE, FOR AMOUNT OF NOT EXCEEDING $5 BILLION Source:(bit.ly/2F80SeY) Further company coverage:

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