Amanat Holdings to buy back 5% of shares

Amanat Holdings, the leading healthcare and education listed investment company, confirmed shareholder approval of a share buyback programme for up to 5 per cent of the company’s outstanding shares and a dividend distribution of Dh100 million for the full year 2022, which amounts to 4 fils per share or 88 per cent of profit attributable to equity holders.

The share buyback programme, which will be financed through existing cash reserves, will enable an optimised capital structure and enhance value creation.

The buyback price per share will be set up to the current book value per share, representing a 19 per cent premium over the ex-dividend market price at the close of trading on 17th April 2023.

Amanat’s chairman Hamad Abdullah Alshamsi said: “Amanat’s share buyback programme underscores our belief that Amanat’s shares are attractively priced and offer a compelling investment opportunity, highlighting our confidence in our business model and growth trajectory.”

“Concurrently, the doubling of our dividends from pre-2020 levels reflects our commitment to delivering value for our shareholders through a combination of growth and a higher dividend payout.”

“Going forward, we continue to see significant opportunities to leverage Amanat’s core capabilities in investment sourcing and platform development to unlock further growth and deliver additional value for our shareholders,” Alshamsi concluded.

• Business