AED2.88 billion in cash dividends proposed by consumer services companies for 2020

ABU DHABI, Up to AED2.8 billion in cash dividends for 2020 have been proposed by the consumer services companies listed in the UAE capital markets, according to data released by these firms on the websites of ADX and DFM.

These account for 8.2 percent of the total dividend distributions announced until March 31 by all listed firms in UAE financial markets, which amounted to around AED35 bn.

The consumer services sector is one of the few platforms which maintained decent growth rates despite a slower and only marginal improvement in business conditions around the world due to the COVID-19 pandemic.

ADNOC tops consumer services companies in terms of the recommended cash dividends, which reached AED2.57 bn for the reference year, accounting for 89.2 percent of the total profits announced by the sector.

Agthia comes second with AED119 million worth of proposed dividends, followed by the Emirates Driving Company, AED90 million. The rest is divided between other listed consumer services firms.


Source: Emirates News Agency

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