Thu 28-03-2019 20:05 PM
ABU DHABI, 28th March, 2019 (WAM) — To the tune of AED37.2 billion in cash dividends for 2018 are proposed to be paid out by 114 companies listed in UAE capital markets, a growth of 16.2 percent on year.
Banks are the largest distributors of profits, with 18 Emirati banks reported to disburse up to AED18.9 bn to their stockholders, which comprises 51 percent of the total dividends combined.
According to latest statistics released by the listed banks, the 2018 dividends are 13.4 percent higher than the 2017’s, which is reflective of the positive performance of the sector across the year, with ADX and DFM websites reporting the sector’s profits soaring at more than AED42 bn.
Annual investment returns in the banking sector amounted to 5 percent, with free-flowing share dividends valued at around AED10.12 bn.
The telecommunications sector came second with AED8.54 bn in dividends for 2018 against AED8.5 bn in 2017.
The realty sector reported AED4.25 bn in dividends; AED1.67 bn for the services sector; AED1.43 bn for leisure & hospitality; and AED693 million for the financing sector, with the remaining dividends divided over other business platforms.
First Abu Bank led the sector with more than AED8.00 bn in dividends, which stand for 74 percent of the bank’s capital, with net profits exceeding AED12 bn.
ADCB came second, AED2.4 bn, with Dubai Islamic Bank paying out AED2.3 bn and Emirates NBD AED2.19 bn.
WAM/Hassan Bashir/Hatem Mohamed