Page 76 - AAE PR REPORT - March 2024

3/21/24, 10:13 AM Al Ansari to pay $81m dividend - TRENDS Mena
Al Ansari to pay $81m dividend

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Al Ansari Group operates the Al Ansari Exchange. (Al Ansari)

By TRENDS Desk The approved cash dividend payment is in line with the dividend policy set out
March 20, 2024 7:09 pm
in the IPO prospectus.
The company had reported a net profit of AED495 million for 2023, a decrease
of 15.7 per cent year-over-year, from AED595 millon.

Dubai, UAE — Al Ansari Financial Services (Al Ansari), an integrated financial
services group in the UAE, has approved a cash dividend of AED300 million for
the second half of 2023.

This brings the total amount of dividend distributions for the fiscal year 2023 to
AED600 million, the company said.

The approved cash dividend payment is in line with the dividend policy set out in
the IPO prospectus, in which Al Ansari committed to paying a total dividend
Share amount of AED600 million per annum for the year 2023, as well as in accordance
with the dividend policy approved by the company’s shareholders at the Annual
General Assembly.

Mohammad Ali Al Ansari, Chairman of Al Ansari Financial Services, said, “The
financial and operational performance delivered by Al Ansari Financial Services in
2023 demonstrates the strength of our business model. Al Ansari Financial
Services has managed to maintain its stability thanks to the hard work and
dedication of our team and the continued support of our stakeholders.”

The company had reported a net profit of AED495 million for 2023, a decrease of
15.7 per cent year-over-year, from AED595 million, mainly due to a temporary
drop in the remittance segment and increased expenses.

The Group, which operates Al Ansari Exchange, said the recently announced
approval to increase remittance fees will help offset these costs and strengthen
financial performance in the future.

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