Friday , April 27 2018

ADX distributes AED22bn in cash dividends to investors

Investors monitor screens displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014. The spectacular rise and fall of Arabtec, Dubai's most heavily traded stock, teaches hard lessons about how risky the region remains for investors even as its rapid economic growth lures billions of dollars in fresh funds from abroad. Wild trading by local retail investors who dominate activity, plus weak corporate disclosure and a hands-off approach by regulators, can make a toxic mix, and on occasion destabilise entire markets.  REUTERS/Stringer(UNITED ARAB EMIRATES - Tags: BUSINESS) - RTR3VP3N

Abu Dhabi / WAM

Abu Dhabi Securities Exchange (ADX) distributed around AED22.1 billion in cash dividends to investors during the first six months of 2016 on behalf of its listed companies.
ADX Chief Executive, Rashed Al Blooshi, said, “The distributed cash dividends were sent via direct bank transfers to the accounts of investors who have updated their bank account details with ADX or through bank cheques.
This comes in accordance with Securities & Commodities Authority (SCA), decision in 2015, whereby companies listed at financial markets have to transfer cash dividends to their shareholders through the financial market bank account.” The total amount of cash dividends declared by ADX listed companies for the fiscal year 2016 reached around AED22,177 billion for more than 200,000 investors whereas AED16,400 billion were distributed via
direct bank transfers to
investor’s accounts, and AED5,777 billion distributed through bank cheques.

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