UAE stock investors await first dividend payouts of 2024

UAE stock investors await first dividend payouts of 2024

Dubai: In a few weeks, the first of the dividends will be reaching the bank accounts of UAE stock market investors, covering everything from the DEWA payout of Dh3.1 billion (at Dh6.2 fils a share) to that from Dubai Taxi Co., which will issue its first shareholder payment totaling Dh71 million in April.

The Dh71 million from DTC represents the dividend for Q4-2023 and thereafter the Dubai company will be handing out up to 85 per cent of its annual profits to investors.

They aren’t the only ones who will be issuing dividends – and mighty solid ones too - for their 2023 performances. And there should be plenty more in store for investors this year.

The bottom-line? Dividend payouts and - fingers crossed - individual performances by stocks on the DFM and ADX should give what investors want.

“The increased emphasis on dividend pay is what will continue to distinguish UAE stocks in 2024,” said Sameer Lakhani, Managing Director at Global Capital Partners. “In 2024, stock price growth and dividend plays will be on offer on DFM and ADX, with increasing options for investors. And with pension funds gearing up to offer their services to investors in the UAE.”