ABU DHABI, 15th June, 2017 (WAM) -- A total of around AED28.5 billion ($7.75 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, AED27.9 billion are cash dividends, comprising 98.05 percent, while the remaining value, around AED600 million, is bonus shares accounting for 1.95 percent thereof.

The banking sector got the lion's share of the cash coming on top of all other economic platforms, with a total value of AED12.10 billion, followed by the telecommunications sector at AED7.87 billion, then the property sector at a total of AED4.2 billion.

The investment and financial services sector distributed AED1.3 billion, while the industrial platform's share reached AED717 million, followed by the transportation sector at AED639 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 AED259 million, followed by the banking sector at AED162 million.

At the industrial sector, the value of bonus shares distributed reached AED82 million, AED27 million for the services sector, AED15 million for the insurance sector, with the consumer staples platform claiming around AED10 million of the remaining distributed bonus shares.



Copyright Emirates News Agency (WAM) 2017.