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Shuaa Capital said its board of directors has proposed a dividend of 3 fils per share totaling 76 million dirhams ($21 million) to shareholders.
The Dubai based asset management firm said in a statement this is the first dividend to be paid since the merger in 2019.
Earlier, the firm reported a net profit of 125 million dirhams for full-year 2020, up 168 percent year on year, and an EBITDA of 349 million dirhams, up 89 percent year on year.
Assets under management increased to a $14.1 billion at the year-end, driven by the strategy of increasing recurring revenue through permanent capital vehicles. It delivered a Return of Equity (ROE) of 8.5 percent for FY 2020, in line with targets.
(Writing by Brinda Darasha; editing by Seban Scaria)
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