Abu Dhabi – Mubasher: Agthia Group announced the general assembly’s approval for the semi-annual dividend policy totalling AED 85.70 million for the first half (H1) of 2024.
The shareholders endorsed the board’s proposal for a dividend of 10.31 fils per share, which marks a 25% year-on-year (YoY) increase, according to a press release.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: “We regard our shareholders as pivotal partners in our pursuit of sustained excellence, and, in acknowledgement of this vital partnership, we are committed to amplifying value through consistent enhancements to dividends.”
“As we move forward, Agthia remains steadfast in our strategy to become a leading force in the MENA region and beyond by capitalizing on emerging opportunities within the dynamic F&B landscape,” Al Suwaidi highlighted.
Alan Smith, Group CEO of Agthia, asserted: “We are confident that our strategy, portfolio, and capabilities are precisely aligned to achieve our 2025 objectives, rigorously upholding our ESG commitments and maximising value creation for all stakeholders.”
The group recently witnessed a strong fiscal performance in the six-month period that ended on 30 June 2024, recording higher net revenues at AED 2.51 billion. Agthia’s balance sheet remains robust with cash and equivalents of AED 400 million and liquidity of AED 1.80 billion.
