UAE's Amanat increases 2017 cash dividend to over $13m

GCC's largest healthcare and education investment company approves payout at AGM
UAE's Amanat increases 2017 cash dividend to over $13m
By Staff writer
Mon 23 Apr 2018 02:20 PM

Amanat Holdings, the GCC’s largest healthcare and education investment company, has announced that its cash dividend payment for 2017 will increase by AED11.4 million.

Its annual general meeting approved the increase to AED48.9 million ($13.3 million) following shareholders’ request, the company said in a statement.

The payout which will be made from retained earnings of AED5.7 million and from the share issuance reserve of AED5.7 million while obtaining the Securities and Commodities Authority’s approval.

Hamad Abdulla Al Shamsi, chairman of Amanat, said: “Reflecting our commitment to our shareholders in building long-term sustainable value, we are pleased to increase our total dividends payout. With 43 percent of capital already deployed, we are optimistic about our ability to continuing enhancing shareholder value as we build on our solid foundation of actively investing in healthcare and education companies.”

Dr Shamsheer Vayalil, vice chairman and managing director of Amanat, added: “The strong positive operational cash flow Amanat has had since inception enables us to increase the dividends payout. As the GCC’s largest investment company in the healthcare and education sectors, we are well positioned in 2018 to strengthen our pipeline of strategic investments within these sectors in the GCC and beyond.”

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