First Gulf Jumps to 4-Year High on Dividend Bet: Abu Dhabi Mover
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First Gulf Bank PJSC advanced to the highest level in more than four years on bets the Abu Dhabi-based lender will boost its full-year dividend above its peers when it reports results next week.
Shares of the bank, which is controlled by Abu Dhabi’s ruling family, rose 2.1 percent to 12.10 dirhams, the strongest level since August 2008, at the close in Abu Dhabi. The stock led a gain of 1.1 percent for the benchmark ADX General Index, the biggest advance since Jan. 2. First Gulf Bank, which was the second-best performing bank on the gauge last year, has increased 3 percent this week.