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Salik’s shareholders approve AED 550m dividends for H2-23

Salik’s shareholders approve AED 550m dividends for H2-23
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Dubai – Mubasher: The annual general meeting (AGM) of Salik Company greenlighted the distribution of AED 550.03 million as cash dividends for the second half (H2) of 2023.

The company will pay a cash dividend of 7.33 fils per share, representing 100% of the net profit of H2-23, according to a press release.

Meanwhile, the value of the full-year cash dividends amounted to AED 1.09 billion, equivalent to 14.63 fils per share.

Mattar Al Tayer, Chairman of Salik, noted: “Salik's robust financial performance in 2023 highlights the resilience of its business model, with record total revenue of AED 2.10 billion, increasing by 11.40% year-on-year (YoY).”

“This growth was primarily attributed to toll usage revenue, which grew by 11.70% YoY, marking the strongest full-year performance since the start of Salik's operation in 2007," Al Tayer highlighted.

He added: “The distribution of 100% of our net profit for the second half of 2023 confirms our commitment to creating long-term value for our shareholders, with our very solid performance in 2023 a testament to the trust that the wider stakeholder community has placed in us.

The Chairman indicated: “We are a direct contributor to, and beneficiary of, Dubai's commitment to growth and diversification, and we are proud to be playing a role in this thriving economy."

In January 2024, the DFM-listed company was assigned by the Roads and Transport Authority (RTA) to install two new toll gates in Dubai.