UAE’s Agthia Group announces interim cash dividend of Dhs65.31m for H1 2022

UAE’s Agthia Group announces interim cash dividend of Dhs65.31m for H1 2022

UAE-based food and beverage company Agthia Group has announced an interim cash dividend payment of Dhs65.31m for the six months ending June 30, 2022. The shareholders approved the board’s proposal for the dividend payment at a value of 8.25 fils per share. Agthia recently H1 2022 revenues totalling Dhs2bn – up 51 per cent year-on-year. Its group net profit attributable to shareholders grew to Dhs118m for the same period, a 74 per cent rise compared to an year-earlier period, on the back of its acquisitions as well as cost optimisation efforts, the company said in a statement. In April 2021, the group adopted a semi-annual dividend policy, which aligns with its commitment to maximising shareholders’ returns, the statement added. Agthia recently announced an Dhs90m investment in a manufacturing facility in Saudi Arabia to drive growth for its protein vertical. Also, in July 2022, the board approved the acquisition of a strategic 60 per cent stake in Auf Group, a healthy snacks and coffee manufacturer and retailer in Egypt.