Page 192 - ALEF EDUCATION PR REPORT MAY 2024

5/22/24, 2:22 PM Alef Education to list 20 percent shares on Abu Dhabi stock market
governments and education institutions, catering to their diverse and evolving education and
learning requirements,” said Abdulhamid Mohammed Saeed Alahmadi, Chairman of Alef
Education‘s Board of Directors.
“To date, our growth has been strongly supported by – and continues to benefit from – the UAE
government’s focus on providing quality education to a broad student base, and increased fiscal
spending allocated to education, totalling over 15 percent of the UAE federal budget in 2023. This
remains true across and beyond the GCC, with the MENA region allocating an average of 4 percenr
of GDP towards education spending in 2022,” said Geoffrey Alphonso, CEO of Alef Education.
Dividend policy
Alef Education plans to pay cash dividends twice each financial year. Therefore, the payment of the
first-half results will be made in Q4 that year. Moreover, a second payment following second-half
results will be made in Q2 of the following calendar year. The company expects to pay a minimum
dividend payout ratio of 90 percent of the net profit generated for both financial years 2024 and
2025.
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