(MENAFN-Al-Bayan)
14 companies listed on the Dubai Financial Market doubled their cash distributions for the year 2022 to touch 22 billion dirhams, compared to 8 billion dirhams distributions for 2021, an increase of 173.75%, in conjunction with the announcement of 3 companies listed in the past year for generous distributions, which are “Dewa” and Empower and Tecom.
The value of distributions to 4 listed national banks amounted to 8.5 billion dirhams, compared to distributions of 5.9 billion dirhams for the year 2021, an increase of 43.4% for these banks, amid strong profits recorded by the banking sector. The national banks included 4 banks listed on the Dubai Financial Market, namely: Emirates NBD, Dubai Islamic, Commercial Dubai and Mashreq Bank.
Dubai Electricity and Water Authority cash distributions amounted to 9.9 billion dirhams, Emirates NBD distributed 3.79 billion, Dubai Islamic 2.17 billion, Mashreq Bank distributed 1.8 billion, Integrated Communications – Du 1.08 billion, Commercial Bank of Dubai 730 million, and Air Arabia. 700 million, Empower 450 million, Tecom 400 million, Tabreed 384.11 million, GFH 217.9 million, Dubai Financial Market 134.7 million, Amanat Holding 100 million, and Dubai Insurance » 50 million dirhams.
In addition, financial experts and analysts expected that the listed companies would achieve record annual profits in the current year 2023, supported by several factors, foremost of which is the strength and durability of the national economy and the announcement of record profits and generous distributions for the year 2022 by listed companies and banks, to continue to lead in terms of high profitability compared to their counterparts in Middle East and North Africa region.
The experts whose opinions were polled by Al-Bayan said: Banking, real estate and energy stocks will continue their gains in 2023, supported by the record profits they achieved last year, as well as economic openness and attracting foreign deals, which have grown in the real estate and banking sectors.
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