The profits of the “Dubai Market” grow 41.7% to 147 million dirhams in 2022

During the past year, the Dubai Financial Market Company recorded a growth of 41.7% in net profits, to reach 147.1 million dirhams, compared to 103.8 million dirhams in 2021. Total revenues amounted to 351.2 million dirhams, an increase of 19% compared to total revenues of 294.6 million dirhams last year.

The company recorded a net profit of 58.1 million dirhams during the last quarter of 2022, compared to 65.7 million dirhams in the same quarter of 2021, while total revenues in the same period amounted to 113.4 million dirhams, compared to 111.5 million dirhams in the last quarter of 2021.

The Board of Directors also recommended distributing cash dividends of AED 134.7 million to shareholders, representing 1.68% of the capital and 100% of the total distributable retained earnings. 

The board decided to submit a recommendation to the company's general assembly to adopt a new fixed policy for distributing profits of at least 50% of the annual net profits, instead of the practice of distributing profits every two years.

Helal Al-Marri, Chairman of the Board of Directors of the Dubai Financial Market, said: “The year 2022 was promising in the Dubai Financial Market, as our results in this fiscal year confirm the strength of the company’s business model, the great development that we are achieving in terms of developing our business, our pursuit of new opportunities, and our hard work.” To accelerate the development of financial markets in the United Arab Emirates, and we are confident that the modern infrastructure of the Dubai Financial Market, its regulations and its effective business model, will all be a starting point for enhancing its growth and consolidating Dubai's position as a global financial center."

Follow our latest local and sports news and the latest political and economic developments via Google news