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FOREIGN CAPITAL BOOST

UAE listed companies awarded $8.7bn dividends for 2018

ABU DHABI, March 11, 2019

A total of 113 listed public joint stock companies distributed Dh32 billion ($8.7 billion) in dividends for 2018, according to data released by the Abu Dhabi Securities Exchange and Dubai Financial Market.

The largest across the GCC and Middle East and North Africa (Mena) region, the increased dividends reflect the growth in foreign capital invested in key listed Emirati companies, it stated.

In further detail, 18 UAE banks distributed Dh18.7 bn, a growth of 12.2 per cent from Dh16.66 billion for 2017, accounting for 53.7 percent of the total dividends announced by the companies listed in the country's two main bourses for 2018.

UAE Banks secured profits of Dh42 billion, with FAB topping the list of best performing banks with dividends exceeding Dh8 bn, and net profits of Dh12 billion.

At the telecommunications sector, dividends totalled Dh8.54 billion against Dh8.5 billion in 2017, with consumer services posting Dh1.7 billion, realty sector Dh1.1 billion, insurance sector Dh568 million and Dh348 million at the construction platform, said the data.

The financing and investment sector distributed Dh268 million in dividends, followed by the industry sector, Dh272 million, hospitality sector, Dh130 million and finally Dh107 million by the health sector, it added.-TradeArabia News Service




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