These Dubai firms paid AED 12.69 bln in dividends in 2016

Twenty nine Dubai-listed firms paid AED 12.69 billion in dividends in 2016, down by 3 percent year-on-year (YoY), data compiled by Argaam showed.

These dividends accounted for 49 percent of the earnings generated last year.

The dividend yield declined to 4.7 percent in 2016 compared to 5.0 percent in 2015 due to the increase in the market value and lower paid dividends. Adjusting for the firms’ market value, dividend yield would have reached 3.4 percent.

Four companies distributed bonus shares in 2016, compared to five firms in 2015.

The industrial sector reported the highest dividend yield of 7.1 percent in 2016. Insurance followed with 6.8 percent, and then banks (5.6 percent).

Damac Properties, which topped other companies in terms of market value for the second straight year, reported the highest dividend yield of 8.6 percent, followed by Dubai Islamic Bank (DIB) (7.8 percent), Air Arabia (6.4 percent) and Emirates Integrated Telecommunications Co. (5.5 percent).