PHOTO
UAE-based currency exchange company Al Ansari Financial Services is set to distribute AED300 million ($81.7 million) in cash dividend.
The company’s board of directors has proposed the interim payout in line with the previously announced dividend policy of distributing AED600 million with respect to 2023 earnings, according to a statement on Friday.
The payout, equivalent to 4.0 fils per share, is subject to shareholders’ approval at the upcoming General Assembly.
The company had previously announced it was targeting a minimum dividend of AED600 million for the year, with the first payout slated for October and the second in April 2024.
Early this year, the company raised AED773 million in an initial public offering (IPO).
(Writing by Cleofe Maceda; editing by Seban Scaria)
