UAE-based Amanat Holdings has confirmed shareholder approval for a share buyback programme for up to 5% of the company’s outstanding shares and a dividend distribution of AED100 million ($27.2 million) for FY 2022, which amounts to 4 fils per share or 88% of profit attributable to equity holders.

 

A key healthcare and education listed investment company, Amanat said the share buyback programme, to be financed through existing cash reserves, will enable an optimised capital structure and enhance value creation.

 

Amanat’s Chairman Hamad Abdullah Alshamsi said: "The share buyback programme underscores the belief that our shares are attractively priced and offer a compelling investment opportunity, highlighting our confidence in our business model and growth trajectory."

 

"Concurrently, the doubling of our dividends from pre-2020 levels reflects our commitment to delivering value for our shareholders through a combination of growth and a higher dividend payout," he noted.

 

"Going forward, we continue to see significant opportunities to leverage Amanat’s core capabilities in investment sourcing and platform development to unlock further growth and deliver additional value for our shareholders," Alshamsi added.-TradeArabia News Service