Business & Money | Sunday 15 September, 2019 3:53 am |

Abu Dhabi Securities Exchange, ADX, announced on Saturday the distribution of over AED25 billion in cash dividends to 572,774 eligible investors on behalf of its listed companies. In comparison to the 2018 dividends, the 6.95 percent increase demonstrates the attractiveness of the investment environment in the Emirates and especially in Abu Dhabi.

According to a statement released by the exchange, 398,220 UAE investors received their profits compared to 155,589 investors from other GCC nations, and 18,965 foreign investors, while cash dividends were distributed to 7442 institutional investors.

Commenting on the announcement, Khalifa Salem Al Mansouri, Acting Chief Executive of ADX, said, "The increase in the size of cash dividends is a clear sign of how well ADX listed companies are performing. It also shows the attractiveness of our investment environment which is served by a supportive and efficient dual economic and legislative structure in the UAE."

The banking sector topped the list of the most active sectors in ADX with regards to cash dividend distribution with 52 percent of the total value of around AED13.1 billion, followed by the telecommunication sector with 28 percent and a total value of around AED7.1 billion.

The energy sector came third with around nine percent of the total value of about AED2.31 billion. The insurance sector came fourth with about six percent and a total value of about AED1.41 billion, followed by the services sector by about two percent (AED420 million).

ADX witnessed an increase in both institutional and foreign net investments starting the beginning of the year and up to end of August. In terms of net institutional investments, it has increased by nearly 93% from the beginning of the year and until the end of August of this year to reach AED2.6 billion compared to about AED 1.4 billion in the same period in 2018.

Net foreign investment on ADX reached AED3 billion since the beginning of the year and until the end of August of this year in comparison to AED 1.3 billion to the same period in 2018 which is an increase of 117 percent.