Alef Education Shareholders Endorse AED 402.8 Million Cash Dividend For Financial Year 2024

Alef Education Holding Plc recently concluded its inaugural Annual General Meeting (AGM) with success. Shareholders endorsed the Board of Directors’ report on the company’s operations and financial statements for the fiscal year ending 31st December 2024. They also approved cash dividends totalling AED199.2 million for the second half of FY 2024, with AED67.5 million allocated to free float investors in April 2025.

The total dividend for FY 2024 reached AED402.8 million, highlighting Alef Education's dedication to providing sustainable value to shareholders through a clear dividend policy. This policy ensures AED135 million is promised to free float investors annually in both 2024 and 2025. The AGM also showcased Alef Education's strong financial and operational achievements since its IPO on the Abu Dhabi Stock Exchange (ADX) in June 2024.

Alef Education reported impressive financial results for FY 2024, achieving a net profit before tax of AED491.7 million, marking a 6% increase compared to the previous year. The company's revenue reached AED759.0 million as it expanded its reach to 1.4 million students through innovative learning solutions.

EBITDA grew by 5% year-on-year, amounting to AED512.2 million, reflecting Alef Education's solid financial standing supported by cost optimisation efforts. The company maintained an EBITDA margin of 67.5%, driven by strategic business-to-business partnerships and resilient long-term business-to-government contracts.

During FY 2024, Alef Education embarked on significant business development initiatives as part of its growth strategy. It secured a contract exceeding AED30 million over three years and collaborated with MetaMetrics to create Miqyas Al Dhad, an innovative tool aimed at enhancing Arabic literacy across the Arab world.

Alef Education strengthened its presence by signing several Memorandums of Understanding (MoUs) with education ministries in various countries, promoting the adoption of this new AI-powered Arabic literacy tool.

Leadership Insights and Future Commitments

Abdulhamid M. Saeed Alahmadi, Chairman of Alef Education, emphasised the company's robust financial and operational performance since its landmark IPO on ADX in June 2024. Geoffrey Alphonso, CEO of Alef Education, stated, "2024 was a transformational year for Alef Education." He highlighted their successful IPO, swift inclusion in the MSCI UAE Small Cap Index, and expanding strategic partnerships as evidence of their leadership in AI-powered education.

The AGM underscored Alef Education's commitment to innovation and operational excellence while ensuring long-term value for shareholders, students, and stakeholders alike.

With inputs from WAM