Finance & Capital Market

Emirati firms pay $10.6bn in dividends for 2018

Listed Emirati companies have paid cash dividends in the tune of Dh39 billion ($10.6 billion) for their stockholders for the year 2018, a media report said.

The generous cash distributions, which earn the UAE companies the lead over other Middle East-based firms in terms of dividend payouts, are reflective of the high-yield stocks traded in the country's two main bourses: Abu Dhabi Securities Exchange and Dubai Financial Market, primarily the banking, real estate and telecommunications shares, reported state news agency Wam.

According to official figures, the 2018 cash distributions grew 21.8 percent from Dh33 billion in 2017, with banks getting the lion's share of Dh19.917 billion, which accounts for 48.5 percent of the total cash dividends paid out by all listed national firms. The average annual investment return on the listed banks stood at 4.89 percent, with free-flowing shares' cash distributions valued at Dh10.131 billion.

The telecom came second with Dh8.544 billion against Dh8.5 billion in 2017.

On the real estate sector, cash dividends amounted to Dh 4.254 billion; Dh1.688 billion on the services sector; Dh1661 billion on the transportation & logistics sector; Dh1.431 billion on the leisure & hospitality; and Dh702 million on the investment and financing, with the remaining value of dividends distributed on other listed sectors.