Page 26 - AAE PR REPORT - February 2024

Al Ansari group posts Dh495

million profit in 2023

The company announces full-year minimum dividend of Dh600 million (8.0 fils per
share), half of which had already been paid out
by
Issac John

Mohammad A. Al Ansari, chairman of Al Ansari Financial Services. — Supplied photo
Published: Wed 14 Feb 2024, 5:07 PM
Last updated: Wed 14 Feb 2024, 9:34 PM
Al Ansari Financial Services reported on Thursday a net profit of Dh495 million for 2023
and announced a full-year minimum dividend of Dh600 million, half of which had already
been paid out.
In a statement, the company said: “In accordance with the 2023 dividend policy of the
group, a minimum dividend of Dh600 million (8.0 fils per share) will be distributed,
resulting in an annual dividend yield of 7.74 per cent based on the share price of Dh1.03.”
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In November 2023, the Dubai-based group disbursed a cash dividend of Dh300 million
(4.0 fils per share) for the first half of the year. The remaining portion of the 2023 dividend,
amounting to Dh300 million (4.0 fils per share), is scheduled for payment in April 2024.
A 15.7 per cent year-over-year decline in net profit to Dh495 million from Dh595 million
was due to a temporary drop in the remittance segment and increased expenses. The
recently announced approval to increase remittance fees will help offset these costs and

https://www.khaleejtimes.com/business/al-ansari-group-posts-dh495-million-profit-in-2023