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2/9/24, 12:12 PM Dubai toll-gate operator Salik's net profit closes 2023 at Dh1b; dividend at 100% | Markets – Gulf News
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BUSINESS / Markets
Dubai toll-gate operator Salik's net profit closes
2023 at Dh1b; dividend at 100%
DFM-listed Dubai toll-gate operator dividend policy is 100% payout
Pub lished: Februa r y 08 , 2024 10:24
Manoj Nair, Business Editor
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Salik' s revenue gains came through higher traf{c using the 8 toll-gates in the city as well as the all-round uptick in the city's economic
activity.
Image Credit: Bloomberg
Dubai: Revenues for the Dubai toll-gate operator Salik hit Dh2.1 billion in 2023, which comes as an 11.4 per cent increase
from higher traffic numbers and all-round gains for the Dubai economy.
Net profit was at Dh1.09 billion against Dh1.32 billion in 2022. But Salik in a statement said: “Comparison of profitability
from one year to another may not accurately reflect the performance on a like-for-like basis due to changes in operating
structure and cost profile.”
Salik's dividend plan, detailed at the time of the IPO, is to give out 100 per cent of the profit. (On DFM, the stock is
trading 0.8 per cent higher at the end of the first 60 minutes, at Dh3.42. Be 52-week high is Dh3.72. Salik has gained
more than 20 per cent over the 12 months.)
The performance and pro{tability has improved year-on-year during the
post carve-out period’’
- Salik st atement
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