UAE: Eshraq Investments’ board proposes dividend for 2022

Abu Dhabi –  The board of Eshraq Investments recommended on 17 February 2023 a cash dividend of 2 fils per share for 2022, according to a bourse disclosure.

Meanwhile, the dividends proposal is subject to the approval of the shareholders during the company’s next assembly general meeting (AGM).

In the January-December 2022 period, the ADX-listed company logged a net profit worth AED 589.79 million, an annual hike from AED 38.42 million.

Total operating income widened to AED 570.68 million in 2022 from AED 67.34 million in 2021, whereas the earnings per share (EPS) soared to AED 0.30 from AED 0.02.

Jassim Alseddiqi, Chairman of Eshraq Investments, said: “We are thrilled to announce exceptional growth in profitability and significant strides towards solid revenue growth in 2022.”

Alseddiqi noted: “We are diligently working to enhance shareholder returns, and in this regard, we have taken a number of initiatives in this meeting. We have proposed a cash dividend of 2 fils/share to be approved by shareholders in the AGM.

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