United Arab Emirates, Dubai:

Union Coop came at the top of the list of the highest returns per share from cash dividends for the profits of companies listed on the Dubai Financial Market, with a return of 9.1%, followed by Emaar Development Company with a return of 8.9%, and then National General Insurance with a return of 8.6%, and Dubai Investments Company came forth in that list with a return of 8.2%. .

This came during a report published by “Al Emarat Al Youm” newspaper, in its issue of April 17, 2023, in which it indicated that the dividends of companies listed on the Dubai Financial Market have increased by about 3.11 times since 2020, the year in which stock markets were affected by the spread of the Corona pandemic. And that from AED 7.94 billion, to reach AED 24.71 billion at the end of last year.

The newspaper confirmed in its report that during the last five years, and specifically since the end of 2018, when the value of the distributions of companies listed on the Dubai Financial Market was about AED 12.32 billion and until the end of 2022, it increased by 100.5%.

On an annual basis, the value of cash dividends for companies listed on the Dubai Financial Market increased by 137.6%, compared to AED 10.40 billion by the end of 2021.

The increase in cash dividends for these companies during 2022 came with the support of the increase in the pace of new listings for more than six companies, in addition to the distributions of “Emaar Development”, after it was heading for non-distribution the year before last.

The number of companies that distributed cash dividends from last year in the Dubai Financial Market increased by 12.5% to reach 27 companies out of 52 listed companies compared to 24 companies out of 50 listed companies. The profits decided by the general assemblies of those companies and distributed to shareholders, amounting to AED 24.71 billion, are equivalent to about 46% of the total profits of all listed companies during the year 2022.

The companies lead in terms of the value of the increase in cash dividends, Mashreq Bank by AED 1.6 billion from the previous year, followed by Emaar Properties, which raised its cash dividends by AED 982.7 million for the year 2021.