By: Mahmoud Gamal
Dubai – Mubasher: Investors in the UAE bourses are likely to capture new positions in stocks that proposed generous cash dividends distributions and announced strong profits, analysts told Mubasher.
By the end of Sunday’s trading session, the Dubai Financial Market (DFM) added 0.61% to 3,306.57 points, the Abu Dhabi Securities Market (ADX) inched up 0.05% to 4,582.01 points.
Investors are currently trading on profitable stocks of generous dividends, senior sales trader at Mubasher Financial Services (MFS) Mohab Maher said.
Traders are inclining to invest in these stocks due to the upcoming dividend distributions, topped by the banks sector’s stocks and some of the real estate stocks such as Ras Al Khaimah Properties (RAK), he added.
Almost 43 companies listed on the DFM and ADX have recommended distributing cash dividends for their shareholders with a total of AED 31.6 billion dividends, according to Mubasher statistics.
Statistics showed that 25 of these companies are listed on the DFM and proposed total dividends of AED 21.26 billion, while the remaining 18 firms are listed on the DFM and proposed a total dividends of AED 10.3 billion.
Meanwhile, about 70 firms listed on both stock markets have not announced any dividends proposals yet, statistics indicated.
Liquidity ratios are still tight in some blue chips as a result of the absence of foreign investors over the past period, Maher noted.
Translated by: Mai Ezz El-Din
