Dubai-Mubasher: GFH Financial Group’s stock advanced 2.2% by 1:35pm UAE time to AED 1.1, its highest level since October 2014.
The stock’s rise followed the announcement of GFH’s subsidiary in Dubai, GFH Capital, of the distribution of semi-annual dividends for investors in the education and real estate sectors.
GFH Capital distributed dividends of 8% for Sheffield Private School and 7% for Philadelphia Private School.
The unit also paid 11% dividends for Jeddah Mall investment. In addition, the diversified US residential and industrial portfolios distributed dividends of 9.2% and 9.16% respectively.
Trading on the stock reached 55.02 million shares through 375 transactions, with a turnover of AED 60.03 million.
The banks sector slid 0.4% during the same time, while the DFMGI went down 0.18% or 35.72 points to reach 3,460.42 points.
