The Securities and Commodities Authority (SCA) reported that public joint-stock companies in the UAE distributed AED61.73 billion in cash dividends and bonus shares over the past year.
Of this, AED58 billion (94%) was allocated to cash dividends, while AED3.72 billion (6%) was distributed as bonus shares.
The banking sector led the way, distributing AED18.35 billion in cash dividends, followed by the energy sector with AED11.36 billion. Telecommunications and utilities sectors contributed AED8.73 billion and AED8.72 billion, respectively. The real estate sector came in fifth, distributing AED5.54 billion, with the transportation sector following at AED1.87 billion.
Other sectors making significant contributions included services (AED1.06 billion), insurance (AED975.3 million), investment and financial services (AED849.9 million), industrial (AED274.04 million), and consumer goods (AED199.6 million). Non-listed companies accounted for an additional AED60 million in dividends.
The cash dividends were a combination of distributions approved by general assemblies and those based on interim financial results for 2023. The banking sector also dominated bonus share distributions, issuing AED3.439 billion, followed by the services sector with AED281.7 million.
This significant distribution underscores the UAE's robust economic sectors and their strong performance over the past year.
News Source: Emirates News Agency
