ABU DHABI, A total of 113 listed public joint stock companies distributed AED32 bn in dividends for 2018, according to data released by the Abu Dhabi Securities Exchange and Dubai Financial Market.
The largest across the GCC and MENA region, the increased dividends reflect the growth in foreign capital invested in key listed Emirati companies.
In further detail, 18 UAE banks distributed AED18.7 bn, a growth of 12.2 percent from AED16.66 bn for 2017, accounting for 53.7 percent of the total dividends announced by the companies listed in the country’s two main bourses for 2018.
UAE Banks secured profits of AED42 bn, with FAB topping the list of best performing banks with dividends exceeding AED8 bn, and net profits of AED12 bn.
At the telecommunications sector, dividends totalled AED8.54 bn against AED8.5 bn in 2017, with consumer services posting AED1.7 bn, realty sector AED1.1 bn, insurance sector AED568 million and AED348 million at the construction platform.
The financing and investment sector distributed AED268 million in dividends, followed by the industry sector, AED272 million, hospitality sector, AED130 million and finally AED107 million by the health sector.
Source: Emirates News Agency