Salik shareholders approve $134m dividend

Salik shareholders approve $134m dividend

Shareholders in Salik have approved a total dividend of $134m (Dhs491m), which translate to 6.55 fils per share, for the second half of 2022. The shareholders’ approval to distribute cash dividends of Dhs491m, which represents 100 per cent of Dubai toll operator’s net profit for the second half of 2022, after deducting a one-time statutory reserve of Dhs37.5m is in line with the company’s dividend policy. “Our solid performance in 2022 is a testament to the trust that our shareholders and the wider business community have in our company as well as Dubai’s commitment to ongoing growth as part of its overarching development strategies,” Mattar Al Tayer, chairman of Salik said at the company’s first annual general meeting as a publicly listed entity. The company’s full-year revenue jumped by 11.8 per cent to $517m (Dhs1.9bn), supported by an increase in revenue from toll usage fees “which was driven by positive seasonality effects as well as organic growth in the number of trips.” The road-toll operator said the number of revenue-generating trips also increased by 13 per cent to 413 million trips compared to 367 million in 2021, driven by continued recovery from the pandemic as restrictions were fully lifted in