Revealed: UAE listed firms pay out $9bn in 2017 dividends

Official figures reveal that banking sector have lion's share of cash distributions
Revealed: UAE listed firms pay out $9bn in 2017 dividends
By Staff writer
Sat 24 Mar 2018 04:26 AM

The 2017 cash dividends paid out by 62 companies listed on the Abu Dhabi and Dubai bourses amounted to AED33.1 billion ($9 billion), according to the latest official figures.

The banking sector continued to have the lion's share of cash distributions, after 13 out of 18 listed banks paid out around AED18 billion in cash, accounting for 54.3 percent of the total payout, state news agency WAM reported.

Eight ADX-listed banks paid out AED11.9 billion while five DFM-listed banks distributed dividends of around AED6.1 billion to their shareholders.

The telecommunications sector came second with a total cash of AED8.54 billion followed by the real estate sector whose dividends hit AED2.57 billion.

The finance and investment sector paid out AED1.55 billion, followed by the transport and logistics sector (AED781 million), AED577 million by the insurance sector, AED421 million by the building material sector, and AED291 million by the contracts sector.

The rest of the payments were paid out by companies operating in the health, pharmaceuticals, and the consumables and hospitality sectors.

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