Abu Dhabi Securities Exchange (ADX) today announced that its listed companies distributed a cash dividend of Dh15 billion in 2013 for the fiscal year 2012, an increase of 14 per cent as compared to the same quarter one year ago.
The Dh15 billion cash dividend represents 64 per cent of the total Dh23 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."
He said 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 totaling Dh5.5 billion, and a dividend yield of 7.13 per cent. First Gulf Bank (FGB) came second with Dh2.5 billion cash dividend, with a dividend yield of 6 per cent. ADCB was third with Dh1.4 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 per cent 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 Dh382 million.