$7.62bln in cash dividends proposed by 38 UAE listed companies for 2020

Banks are the largest distributors of profits, with eight Emirati banks reported to disburse up to $4.16bln to their stockholders

  
An investor walks through the Dubai Financial Market after Joe Biden won the U.S. presidency, in Dubai, United Arab Emirates November 8, 2020.

An investor walks through the Dubai Financial Market after Joe Biden won the U.S. presidency, in Dubai, United Arab Emirates November 8, 2020.

REUTERS/Christopher Pike

ABU DHABI - Despite a slower and only marginal improvement in business conditions around the world, to the tune of AED29 billion in cash dividends for 2020 have been proposed to date by 38 companies listed in the UAE capital markets, according to data released by the listed firms.

Banks are the largest distributors of profits, with eight Emirati banks reported to disburse up to AED15.13 bn to their stockholders, with 10 banks yet to disclose their recommendations on dividend distributions.

The telecommunications sector comes second with AED7.63 bn in dividends, excluding the profits proposed by Etisalat board following their declaration that trading in its shares had been stopped.

Other sectors that announced dividend payouts include, transport, real estate, investment, financing, energy, medical services, insurance, transport and construction.

© Copyright Emirates News Agency (WAM) 2021.

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