Al Ansari Financial Services Approves AED 300 Million Cash Dividend For H2 2023

Al Ansari Financial Services PJSC, a prominent integrated financial services group in the UAE, recently convened its Annual General Assembly Meeting in Dubai. The assembly was a pivotal event where shareholders deliberated and endorsed several critical resolutions. Among the key decisions made was the approval of the financial statements for the fiscal year ending 31 December 2023. Additionally, a significant announcement was made regarding the distribution of a cash dividend amounting to AED300 million (4 fils per share) for the latter half of 2023. This decision elevates the total dividend distributions for 2023 to an impressive AED600 million.

The meeting also saw the approval of various company policies concerning the remuneration of its Board of Directors and senior executive management. Notably, the company's Dividends Policy and its commitment to corporate social responsibility (CSR) were discussed. In a commendable move, Al Ansari allocated 2 percent of its annual net profits towards CSR activities aimed at community service.

This approved cash dividend aligns with the dividend policy outlined in Al Ansari's Initial Public Offering (IPO) prospectus. The company had pledged to disburse a total annual dividend of AED600 million for the year 2023, a commitment that has been faithfully upheld according to the policy ratified by shareholders at the Annual General Assembly.

Mohammad Ali Al Ansari, Chairman of Al Ansari Financial Services, expressed his satisfaction with the company's performance in 2023. He highlighted that Al Ansari Financial Services' robust business model and strategic growth initiatives have yielded significant achievements. "The financial and operational performance delivered by Al Ansari Financial Services in 2023 demonstrates the strength of our business model," he stated. The chairman emphasized that these accomplishments are a testament to the hard work and dedication of their team, alongside unwavering stakeholder support.

Earlier announcements from Al Ansari Financial Services had already indicated a resilient performance for the year 2023, with notable operational success. The company has effectively met most of its strategic objectives, further solidifying its position in the financial services sector.

Al Ansari's commitment to innovation and strategic growth not only underscores its dedication to delivering long-term value to stakeholders but also highlights its ability to maintain stability amidst challenging times. This approach has evidently positioned Al Ansari Financial Services as a leader in its field, ready to navigate future opportunities and challenges with confidence.

With inputs from WAM