Dubai-based asset manager, Shuaa Capital, is set to issue an AED76 million (US$21 million) cash dividend after posting a profit for 2020.
The proposed payment, equivalent to 3 fils per share, would be the first dividend issued by the firm since its 2019 merger with Abu Dhabi Financial Group.
Shuaa reported a net profit of $34 million for the last year, an increase of 168% year on year. Assets under management increased to $14.1 billion while return on equity reached 8.5%.
The firm also launched three sharia-compliant funds in 2020 under an incorporated cell company (ICC) platform.
It also plans to launch a further three funds through the ICC platform later this year.
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