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Sun 22 Sep 2019 07:24 PM

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Revealed: $6.8bn dividends distributed by Abu Dhabi bourse

Abu Dhabi Securities Exchange sees nearly 7% rise in dividends distributed on behalf of its listed companies

Revealed: $6.8bn dividends distributed by Abu Dhabi bourse
Abu Dhabi Securities Exchange has announced that it has distributed more than AED25 billion in cash dividends.

Abu Dhabi Securities Exchange (ADX) has announced that it has distributed more than AED25 billion ($6.8 billion) in cash dividends to 572,774 eligible investors on behalf of its listed companies. 

In comparison to the 2018 dividends, the 6.95 percent increase demonstrates the attractiveness of the investment environment in the UAE and especially in Abu Dhabi, said Khalifa Salem Al Mansouri, acting CEO of ADX.

According to latest figures, 398,220 UAE investors received their profits compared to 155,589 investors from other GCC nations, and 18,965 foreign investors, while cash dividends were distributed to 7,442 institutional investors.

The figures revealed that the banking sector topped the list of the most active sectors in ADX with regards to cash dividend distribution with 52 percent of the total value of around AED13.1 billion, followed by the telecommunication sector with 28 percent (AED7.1 billion).

The energy sector came third with around 9 percent of the total (AED2.31 billion), followed by the insurance sector, services sector, industrial sector, and investments and financial services.

Al Mansouri said: “The increase in the size of cash dividends is a clear sign of how well ADX listed companies are performing. It also shows the attractiveness of our investment environment which is served by a supportive and efficient dual economic and legislative structure in the UAE.

“We aim to continue to provide a stable and capable trading environment to offer real investment opportunities for foreign and local investors.” 

He highlighted the importance of the commitment made by the listed companies to distribute their cash dividends to shareholders and investors, as this will bring liquidity to the markets.

ADX has also recently partnered with First Abu Dhabi Bank to distribute cash dividends to its registered investors electronically through the bank’s digital wallet, payit.

ADX added that net foreign investment reached AED3 billion since the beginning of the year compared to AED1.3 billion in the same period in 2018, an increase of 117 percent.

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