Abu Dhabi – Mubasher: The shareholders of Agthia Group approved the board’s recommendation for a cash dividend payment of 18.50 fils per share for 2023, according to a press release.
This is in addition to bonus shares at the rate of 5% of share capital in accordance with the basis of Agthia's strong financial performance last year.
The listed group disbursed an interim cash dividend of 8.25 fils per share, equivalent to AED 65.31 million, for the second half (H2) of 2023.
In line with its semi-annual dividend policy, the total dividends distributed for the year amounted to AED 146.50 million, marking a 12% increase compared to the cash dividend distributed in 2022.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, commented: “Through the provision of both cash and stock dividends, we anticipate enabling our shareholders to further benefit from our financial success and growth.”
“This strategic choice aligns with our enduring commitment to prioritising shareholder value and to realising our strategic vision beyond 2025,” Al Suwaidi mentioned.
Alan Smith, Group CEO of Agthia Group, indicated: “Agthia enters the new year with very strong foundations and clear strategic growth plans in place. While the macroeconomic and geopolitical contexts are shifting, our business is now well-positioned and more resilient than ever.”
“This gives us confidence in our ability to navigate unforeseen disruptions and we remain committed to expanding our capabilities, driving innovation and efficiencies, fostering growth, and advancing sustainable value creation for all stakeholders,” Smith added.
Agthia recorded a strong fiscal performance in 2023, surpassing guidance ranges with the group’s net revenue growing over 12% year-on-year (YoY) to reach AED 4.56 billion.
The ADX-listed company recently raised its stake in Egypt-based Auf Group to 70%.
