Recommendation to distribute dividends to shareholders for the first time after its merger with Abu Dhabi Financial

Shuaa Capital’s net profit of AED 125 million in 2020

Jassim Al-Siddiqi: “When we laid down our growth strategy at this time last year, (Corona) did not invade the world.”

Shuaa Capital announced yesterday that its Board of Directors approved its audited financial data for the fiscal year ending on December 31, 2020, indicating that it and its subsidiary companies, the Group, registered, during the past year, net profits attributable to shareholders amounting to 125 million dirhams, an increase. Its rate of 168% on an annual basis.

The company stated in a statement that its annual profits, before interest, taxes, depreciation and depreciation, amounted to 349 million dirhams, an increase of 89%, compared to 2019.

She added that managed assets rose to a record high of $ 14.1 billion (51.7 billion dirhams) by the end of 2020, driven by the progress made by the group in its strategic plans, to increase its recurring revenues through permanent capital tools.

"Shuaa" indicated that this, in addition to the significant progress in operational efficiency and profitability measures, and achieving synergies, contributed to the Group's recording of a return on equity of 8.5% last year, in line with its medium-term goal that it announced previously regarding the return on equity that was It ranges between 7 and 12%.

The group’s board of directors recommended distributing dividends to shareholders for the first time since the merger of “Shuaa Capital” and Abu Dhabi Financial Group in 2019, by three fils per share, with a total value of 76 million dirhams.

The Chairman of the Board of Directors of "Shuaa Capital", Fadel Al-Ali, said that "(Shuaa) presented in 2020 a strong performance that rises to the level of challenges the year witnessed."

For his part, CEO of the Shuaa Capital Group, Jasim Al-Siddiqi, said: “When we laid down our growth strategy at this time last year, the (Corona) pandemic had not yet swept the world. However, thanks to the flexibility of our business and the dedication of our employees, we were able to continue. Its implementation defying all exceptional circumstances ».

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