The General Assembly of Salik Company, held yesterday, approved the distribution of cash dividends amounting to 550.035 million dirhams, at 7.3338 fils per share, which represents 100 percent of the company’s net profit for the second half of the fiscal year ending on December 31, 2023.
The value of distributable cash dividends amounted to AED 1.097 billion, equivalent to 14.6395 fils per share, which represents approximately 100 percent of the net distributable profits for the year 2023, according to a press release.
The General Assembly concluded its work by approving several special decisions, including amending the definition of a government shareholder to include any entities or individuals specified or named by the Dubai Government, and making amendments to the Articles of Association to add new commercial activities to Salik operations.
The company's profits declined by 17 percent to AED 1.098 billion by the end of 2023, compared to profits of AED 1.325 billion achieved in 2022.
Salik announced a 5.3 percent growth in its net profits at the end of the third quarter of 2023, to AED 255 million, on an annual basis.
It continued its strong performance during the third quarter of 2023, recording 110.8 million revenue-generating trips, while the company’s total revenues amounted to AED 509 million.
System usage revenues, which represent 87.1 percent of total revenues, increased by 14.6 percent compared to the same period last year, the highest level for the third quarter since Salik was launched in 2007.
