Dubai road toll firm Salik to pay out Dh491.4 million as H2-2022 dividend

Dubai road toll firm Salik to pay out Dh491.4 million as H2-2022 dividend

Dubai: The Dubai tollgate operator will pay out Dh491.4 million as second-half 2022 dividend after recording Dh529 million as net profit for the period. A total of Dh37.5 million will be placed as statutory reserves. The Salik stock is currently trading at Dh2.88, quite a premium over the IPO price of Dh2. The annualised dividend thus works out to about 5 per cent. The Dh37.5 million represents a 'one-time' pay into statutory reserves after reaching the limit of 50 per cent of paid-in capital. "This year (2022) was one of new beginnings for Salik, and we are proud to have played a role in Dubai's ambitious privatisation programme through our landmark listing in September," said Mattar Al Tayer, Chairman of Salik. "At Salik, we are committed to driving Dubai's capital market growth and supporting the emirate's larger economic development plans. "As a key player in Dubai's economy, we will continue to work closely with the government and other stakeholders to achieve the leadership’s visions and create new opportunities for the people of Dubai."