Abu Dhabi – Mubasher: The shareholders of Agthia Group approved the board's recommendation to pay out interim cash dividends amounting to AED 65.30 million or 8.25 fils per share for the second half (H2) of 2022, according to a press release.
The announced dividends represent 8.25% of the ADX-listed firm's share capital. This brings the full-year cash dividends to AED 130.60 million.
During the annual general meeting (AGM), the shareholders agreed to increase the size of the board to nine from seven members.
Alan Smith, Group CEO of Agthia, commented: “I am delighted to see that a third of our board is now represented by accomplished female leaders, and I am confident that their breadth of experience and fresh perspectives will prove invaluable to our team as we navigate the ever-changing business environment.”
Smith added: “Agthia’s results over the past year are a testament to the disciplined and methodical execution of our long-term strategy and transformative journey to becoming a leading food and beverage company in the MENAP region and beyond, and together, we will strive to deliver further value for all our shareholders and stakeholders alike.”
Last year, the UAE group recorded net profits attributable to the owners of AED 246.78 million, higher by 14% than AED 216.03 million in 2021.
Revenues hiked by 33% to AED 4.06 billion in 2022 from AED 3.06 billion a year earlier, while the earnings per share (EPS) rose by 9% to AED 0.31 from AED 0.28.
