ABU DHABI, 9th March, 2020 (WAM) — To the tune of AED36.91 billion in cash dividends for 2019 have been proposed to date by 51 companies listed in the UAE capital markets, according to data released by these firms until March 23rd.
Banks are the largest distributors of profits, with 11 Emirati banks reported to disburse up to AED19 bn to their stockholders, which comprises 51.5 percent of the total dividends announced by the general assemblies of the 51 companies during their meetings in March. FAB’s dividends exceeded AED8 bn, followed by ADCB, AED2.64 bn, Dubai Islamic Bank, AED2.53 bn, and Emirates NBD, AED2.527 bn.
The telecommunications sector came second with AED8.5 bn in dividends, accounting for 23 pct of the total, with Etisalat offering AED6.954 bn followed by du, AED1.542 bn.
At the realty sector, cash dividends hit AED3.3 bn, with consumer service companies paying out up to AED2.61 bn. The remaining amount is shared by other sectors, including investment, financing, energy, medical services, insurance, hospitality, transport and logistics.