PRESS RELEASE: BY ALANSARI ON NOV 02, 2023
Al Ansari Financial Services Shareholders Approve Interim Dividend Of 4 Fils/Share
In a significant move, shareholders of Al Ansari Financial Services have given their approval for an interim dividend payout of 4 fils per share. The company, which held its inaugural General Assembly Meeting on November 1, 2023, announced the interim cash dividend of AED 300 million, marking a pivotal moment since its listing on the Dubai Financial Market (DFM) in April 2023.
Al Ansari Financial Services plans to distribute dividends on a semiannual basis, with payments scheduled for April and October following its initial public offering. For the fiscal year 2023, the company has set a minimum dividend amount of AED 600 million, to be disbursed in two equal parts in October 2023 and April 2024. This aligns with the company’s dividend policy, ensuring consistent returns and long-term value for its shareholders.
Rashed Ali Al Ansari, Group Chief Executive Officer of Al Ansari Financial Services, expressed his satisfaction with the approval of the interim dividend payment, emphasizing the company’s commitment to delivering maximum value for its shareholders. He highlighted that the decision reflects the vision of the Board of Directors and underscores the company’s dedication to ensuring consistent returns.
Looking ahead, Al Ansari Financial Services intends to maintain its dividend distribution schedule, with a minimum of AED 300 million earmarked for April 2024. All future dividend distributions will be subject to the recommendation of the Board of Directors and approval from shareholders.
With this latest development, Al Ansari Financial Services reinforces its position as a key player in the financial services sector, poised for continued growth and contributing to the advancement of the UAE’s remittance industry.
