The total value of the cash dividends for 44 companies listed on the UAE financial markets reached approximately 32.5 billion dirhams as of March 9.
According to Emirates News Agency, distributions announced by companies constitute about 78% of the total value of distributions for all companies listed in the financial markets for the year 2018, which amounted to approximately 47.7 billion dirhams, according to statistics issued by the Securities and Commodities Authority.
The banking sector topped all economic sectors in terms of the total value of the cash dividends during the year, as it recommended 8 banks listed in the Abu Dhabi and Dubai financial markets to distribute cash dividends of approximately 18.88 billion dirhams for the year 2019 compared to 17.4 billion dirhams for all sector distributions during 2018.
Bank distributions make up about 58.8% of the total distributions announced as of March 9th.
The telecommunications sector came second in terms of the value of the cash dividends, which amounted to about 7.44 billion dirhams, constituting 28.9% of the total dividends.
It is noteworthy that the recommendations of the boards of directors of companies on dividends remain subject to the approval of the general assemblies, which are considered as the annual meeting that brings together the shareholders of companies and boards of directors and their auditors to consider their activities and financial positions for each year, discuss their balance sheets, elect members of their boards of directors and approve dividend proposals.
