Dubai Investments Confirms An Interim Dividend Payment Of DH318.9 M

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  • 3 weeks ago
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Dubai Investments

Gains from Emicool Transactions Ease Dubai Investments’ Transition to Interim Dividends.

With the approval of Dh318.90 M for the first half of 2022, Dubai Investments is the most recent company to declare interim dividends. This translates to 7.5 fils per share. Investors have approved the interim dividend payout for the company. Which manages industrial parks and is developing a resort in Ras Al Khamiah. This comes after the company released a strong set of H1-2022 financial results.

This interim dividend was the outcome of the Group selling its 50% equity stake in Emirates District Cooling (Emicool) LLC. With a gain of nearly DH1 billion expected to be realized in the third quarter of 2022, according to Dubai Investments. (The 50% was sold to ACTi’s, a real estate and energy-focused investment company, in April.)

At least for the large and liquid listed companies in the UAE, interim dividends reflect a win-win opportunity. The major brands have so far this year reported strong revenue and profit growth. Assuring half-year payouts will result in more activity for the stock.

This trend can also be seen in Abu Dhabi. Moreover, these distributions will be credited to shareholders’ bank accounts the following month. DEWA, Tecom, and Salik, three back-to-back IPOs in Dubai, have also agreed to half-yearly payments. The most recent choice for Dubai Investments involves joining a trend that investors from various companies are supporting. The company’s stock will open today at Dh2.54. The 52-week high for DI is Dh2.64.

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