Shareholders in Abu Dhabi satellite firm Yahsat to get Dh192m by May 11

Shareholders in Abu Dhabi satellite firm Yahsat to get Dh192m by May 11

Dubai: Abu Dhabi’s satellite maker Yahsat has given its shareholders quite the lift, rewarding them with a Dh192.74 million dividend payout for the second-half of 2021. This will be paid out by May 11. For 2021 in full, Yahsat, which listed on ADX last year, is crediting Dh385.54 million into shareholder accounts. This represents a payout of 15.8 per cent on the nominal value of the share, and among the higher dividends issued by a listed company in the UAE. “We are pleased to be able to deliver on our dividend commitment made at the time of the IPO," said Musabbeh Al Kaabi, Chairman. "Our shareholders approved a final dividend for fiscal year 2021 of Dh192.7 million, or 7.90 fils per share, bringing the total for the year to Dh385.5 million, or 15.80 fils per share. This is "reinforcing our position as one of the highest dividend yielding stocks on ADX and our commitment to shareholder value creation. We also reconfirm our plans to grow the dividend by at least 2 per cent per annum, which, going forward will be paid semi-annually starting in October 2022." In 2021, Yahsat, which won some major government contracts, reported a net income of