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DFM completes AED 12.2bn cash dividend distributions for 2018

DFM completes AED 12.2bn cash dividend distributions for 2018
Dividends were distributed to investors through iVESTOR Card and bank transfer

Dubai - Mubasher: The Dubai Financial Market (DFM) on Monday announced the successful completion of cash dividend distribution worth AED 12.2 billion to 336,215 investors for the financial year 2018.

The dividend distribution process was managed by the DFM on behalf of 35 listed companies, according to a press release.

Dividends were distributed to investors through iVESTOR Card and bank transfer, the DFM noted.

Essa Kazim, chairman of DFM, said: “The DFM spares no effort to provide various market participants with smart and efficient solutions and further enhance its leading services. Within this context, the launch of the DDS system represented a significant boost to our cash dividends distribution service.

“The system enables the DFM to distribute the dividends without any human intervention through a comprehensive and continuously updated databank of investors’ details including; dividend entitlement and due amounts and previously disseminated amounts for each investor,” he added.

In 2018, the DFM launched the electronic Dividend Distribution System (DDS) as part of its strategy to clients smart solutions in line with the leadership’s vision on digital transformation.