Media ININ Economy We Trust
10-03-2019 Media in\ Abu Dhabi
The proposed cash dividends of 113 public shareholding companies were about AED 32 billion for the year 2018, according to the data analysis of companies listed in Abu Dhabi and Dubai Financial Markets.
The annual returns announced by the UAE companies are their highest shareholders in the GCC and the Middle East in general, which explains the increase in the volume of foreign institutional investment since the beginning of the year in the shares of major UAE companies traded in the financial markets.
The banking sector, which includes 18 national banks, was valued at AED 18.7 billion, an increase of 12.2% compared to AED 16.66 billion in 2017.
Dividends that banks have decided to give to their shareholders constitute 53.7% of the total value of dividends distributed by companies traded on the Abu Dhabi and Dubai Financial Markets for the year 2018.
The banks made a profit of 42 billion dirhams last year, according to figures from the financial markets. Abu Dhabi First Bank came first in terms of the value of dividends distributed to shareholders, which exceeded 8 billion dirhams, or 74% of the capital for 2018, The bank’s net profit exceeded AED 12 billion.
In the telecommunications sector, which came in second place, the value of cash dividends reached 8.54 billion dirhams compared to 2018 compared to 8.5 billion dirhams in 2017, while the distribution of consumer services sector 1.7 billion dirhams and real estate sector 1.1 billion dirhams and 568 million dirhams for the insurance sector and 348 million AED for the construction sector.
Financial and investment sector allocations amounted to AED 268 million, industry amounted to AED 272 million, AED 130 million to the hospitality sector and approximately 107 million to the health sector
