UAE shareholders got some good dividends in April as IPO boom keeps giving

UAE shareholders got some good dividends in April as IPO boom keeps giving

Dubai: UAE stock market investors had a good April. Not just that, these investors are having a brilliant year-to-date, with many of last year’s IPO entities paying their first dividends last month – and just as important continuing to keep their stock prices high enough.

There was also the return by the master-developer Emaar to issuing dividends after a 2-year gap. It sure has been a season of giving, and where shareholders are concerned, for taking.

Check these numbers out – DEWA is up 8.73 per cent year-to-date, while Emaar Properties’ stock zoomed to 19 per cent (and its other entity Emaar Development by 26 per cent). The mortgage entity Amlak’s stock is up by a weighty 30 per cent, as investors zero in on a possible turnaround for the company that has sizeable accumulated losses to deal with.

There’s also been a comeback for Tecom on its stock price, which is up 11 per cent year-to-date.

On ADX, it’s energy driving the performance, which was to be expected. Newly-listed ADNOC Gas is holding on to a 44 per cent gain, while ADNOC Drilling put on 26 per cent so far this year. Fertiglobe is in the positive territory with 11 per cent.

And then