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ABU DHABI / WAM
Despite a slower and only marginal improvement in business conditions around the world, to the tune of AED35 billion in cash dividends for 2020 have been proposed to date by 51 companies listed in the UAE capital markets, according to data released by the listed firms.
Banks are the largest distributors of profits, with nine banks reported to date to have proposed up to AED15.878 billion to their stockholders, with eight banks yet to disclose their recommendations on dividend distributions.
The dividends suggested by the oil & gas sector amounted to AED2.07 billion, followed by the realty sector at AED1.856 billion. Other sectors which announced dividend payouts include, transport, investment, financing, medical services, insurance, transport and construction.