The cash dividends distributed by the public joint stock companies listed on UAE capital markets for 2017 fiscal year amounted to Dh37.2 billion ($10.12 billion), a growth of 14.4 per cent over 2016, a media report said.

The 2017's dividends are the highest posted over the past several years and the largest in the Middle East region, not only across the GCC states, reported Emirates news agency Wam.

According to the latest industry data, the number of companies which distributed cash to their shareholders rose to 68 companies, all of which are listed on DFM and ADX and operating across multiple business platforms.

The banking sector provides the lion's share of gains, Dh18 billion, a growth of 5.9 per cent over last year, accounting for 48.4 per cent of total dividends distributed by all listed companies. A total of 13 banks paid dividends to their stockholders this year against 14 last year.

The telecoms sector comes second with a total of Dh8.543 billion in cash, accounting for 23 per cent of the total dividends, up 8.15 per cent over 2016.

The realty sector comes third with total gains of Dh3.6 billion, up 2.2 per cent over last year, followed by the transport and logistics sector, Dh2 billion, investment and finance, Dh1.6 billion, hospitality & leisure, Dh1.42 billion, and then insurance sector, Dh590 million, with other listed sectors making the remaining payments.