Dh28.5bn cash dividends, bonus shares by PJSCs

around Dh600 million in bonus shares

ABU DHABI 18 June 2017: Around Dh28.5 billion worth of dividends for the fiscal year 2016 has been endorsed by the general assemblies of the UAE-based public joint-stock companies, PJSC, according to the Securities and Commodities Authority.

Of the total amount, Dh27.9 billion are cash dividends, comprising 98.05 per cent, while the remaining value, around Dh600 million, is bonus shares accounting for 1.95 per cent thereof,  said Wam.

The banking sector got the lion’s share of the cash coming on top of all other economic platforms, with a total value of Dh12.10 billion, followed by the telecommunications sector at Dh7.87 billion, then the property sector at a total of Dh4.2 billion.

The investment and financial services sector distributed Dh1.3 billion, while the industrial platform’s share reached Dh717 million, followed by the transportation sector at Dh639 million, with other listed sectors claiming the remaining cash.

In terms of bonus shares, the realty sector came on top with total distributed shares worth Dh259 million, followed by the banking sector at Dh162 million.

At the industrial sector, the value of bonus shares distributed reached Dh82 million, Dh27 million for the services sector, Dh15 million for the insurance sector, with the consumer staples platform claiming around Dh10 million of the remaining distributed bonus shares.

By Rajive Singh