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The tax is being introduced to accelerate the country’s development and transformation
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51 UAE listed companies to pay Dh36.91 billion in dividends for 2019
Banks are the largest distributors of profits, with 11 Emirati banks reported to disburse up to Dh19 billion.
Banks are the largest distributors of profits, with 11 Emirati banks reported to disburse up to Dh19 billion to their stockholders, which comprises 51.5 per cent of the total dividends announced by the general assemblies of the 51 companies during their meetings in March. FAB's dividends exceeded Dh8 bn, followed by ADCB, Dh2.64 billion, Dubai Islamic Bank, Dh2.53 billion, and Emirates NBD, Dh2.527 billion.
The telecommunications sector came second with Dh8.5 bn in dividends, accounting for 23 pct of the total, with Etisalat offering Dh6.954 bn followed by du, Dh1.542 billion.
At the realty sector, cash dividends hit Dh3.3 bn, with consumer service companies paying out up to Dh2.61 billion. The remaining amount is shared by other sectors, including investment, financing, energy, medical services, insurance, hospitality, transport and logistics.
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