Arab Today, arab today adx pay dh15b cash dividends for 2012
Last Updated : GMT 04:20:45
Arab Today, arab today
Arab Today, arab today

ADX pay Dh15b cash dividends for 2012

Arab Today, arab today

Arab Today, arab today ADX pay Dh15b cash dividends for 2012

Abu Dhabi - WAM

Abu Dhabi Securities Exchange (ADX) yesterday announced that its listed companies distributed a cash dividend of Dh15 billion in 2013 for the fiscal year 2012, an increase of 14% vs. the same quarter one year ago. The 15 billion cash dividend represents 64% of the total Dh 23 billion cash dividend distributed by companies listed on the UAE markets. ADX CEO, Rashed Al Baloushi, described the cash dividend as "a great effort in returning capital to shareholders while maintaining strong capital structure." Adding:"that's positive proof that companies are trying to increase investor returns in 2012. That's a very good step since ultimately; those dividends can have a huge impact in total investment returns." Etisalat topped the list of cash dividend paymasters at the exchange with a cash dividend totalling Dh 5.5 billion, and a dividend yield of 7.13%. First Gulf Bank (FGB) came second with Dh 2.5 billion cash dividend, with a dividend yield of 6%. ADCB was third with Dh 1.4 billion dividend, according to ADX's press release. It is noteworthy to mention that ADX topped MENA stock markets in the first quarter of 2013 with the exchange's general index increasing by 14.99% in the first quarter of 2013, to close at 3,025.33 points. Also during the first quarter of 2013, ADX reported a foreign investor net buy position of Dh 382 million.

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