Al Ansari Financial Services Announces AED 315M Dividend
Al Ansari Financial Services PJSC has declared a substantial cash dividend for 2024, marking a significant return to its shareholders.
Summary
Al Ansari Financial Services PJSC has approved a cash dividend of AED 315 million for 2024, representing 78% of its net profit. The company is also set to acquire BFC Group Holding, enhancing its regional presence.
Al Ansari Financial Services PJSC, a prominent player in the financial services sector of the United Arab Emirates, has recently announced a substantial cash dividend of AED 315 million for the year 2024. This decision, approved by the shareholders, reflects the company's commitment to delivering robust returns, distributing approximately 78% of its net profit after tax. The dividend, amounting to 4.2 fils per share, is a testament to the company's solid financial performance despite prevailing market challenges.
During the Annual General Assembly, shareholders approved a final dividend payment of AED 157.5 million for the second half of 2024, following an interim dividend of the same amount distributed in October 2024. This consistent dividend policy underscores Al Ansari Financial Services' dedication to providing value to its shareholders and maintaining a strong financial position.
Mohammad A. Al Ansari, Chairman of Al Ansari Financial Services, emphasized the company's strategic vision and operational efficiency, stating, 'This dividend distribution reflects our commitment to generating sustainable value for our shareholders while maintaining a strong financial position. Despite market challenges, we have delivered solid performance, reinforcing our leadership in the sector.'
Looking ahead, Al Ansari Financial Services is poised for significant growth, with plans to finalize the acquisition of BFC Group Holding for AED 735 million. This strategic move will expand the company's regional footprint, positioning it as the largest exchange company in Bahrain and the third largest in Kuwait, while also strengthening its presence in India. The acquisition is expected to enhance the company's financial performance and solidify its market leadership.
With a disciplined approach to value creation and a clear strategic direction, Al Ansari Financial Services is well-positioned to strengthen its market position and deliver sustainable shareholder value. For investors, the company's strong financial fundamentals and growth prospects make it a compelling consideration. However, given the current market conditions and the upcoming acquisition, it may be prudent to hold the instrument and monitor the company's performance closely.
Source
Summary
Al Ansari Financial Services PJSC announced that its shareholders have approved a total cash dividend of AED 315 million for 2024, which is 78% of the company's net profit after tax. This includes a final dividend payment of AED 157.5 million for the second half of 2024, following an interim dividend of the same amount distributed in October 2024. Chairman Mohammad A. Al Ansari emphasized the company's commitment to shareholder value and strategic growth, despite market challenges. As part of its growth strategy, Al Ansari Financial Services is set to acquire BFC Group Holding for AED 735 million, which will expand its regional presence and strengthen its market position. The acquisition will make it the largest exchange company in Bahrain and the third largest in Kuwait, while also enhancing its presence in India. The company aims to maintain strong financial fundamentals and deliver sustainable shareholder value.
