GFH shareholders approve 6 per cent cash dividend

GFH Financial Group (GFH) shareholders have approved the board of directors’ recommendation for the distribution of a cash dividend of six per cent of the nominal value of all the ordinary shares, save for treasury shares, equivalent to $0.0159 (BD0.0060) per share for the financial year ended December 31, 2022.

The announcement follows the annual general meeting held virtually yesterday.

Also approved were the minutes of the previous meeting held on April 3, 2022, the board of directors’ report on the group’s business activities for 2022, the consolidated financial statements for the financial year ended December 31, 2022, and the Sharia Supervisory Board’s report on the group’s business activities for the past year.

Shareholders further confirmed the appointment of Yousef Taqi as a complementary independent director of the board in its current term, the reappointment of the group’s external auditors for 2023 and authorised the board to appoint market maker(s) in any or all markets in which the group’s shares are listed, subject to regulatory approvals, including the authority to determine the market maker(s), the duration of the contract and other relevant details.

Commenting, GFH chairman Ghazi Al Hajeri said: “Following a year of strong financial results and progress, we continue to build on the support and confidence of our shareholders in the group and our strategy. We are pleased to announce that shareholders have approved the distribution of another solid dividend as the group continues to focus on creating value for our shareholders, investors and partners. We have been building on this momentum in 2023 and remain focused on further growth in the year ahead.”

Hisham Alrayes, chief executive of GFH, added: “We remain grateful to our shareholders for their continued support and confidence in GFH and our strategy, which saw us make further strides throughout the business in 2022 including delivering double digit growth in income, completing more than $1.2 billion of new investments across global markets, and the listing of our shares on the Abu Dhabi Securities Exchange (ADX), marking the group’s fourth regional listing and a further broadening of our shareholder base to create even more liquidity.”

Today, GFH has more than $17.6bn of assets and funds under management including a global portfolio of investments in logistics, healthcare, education and technology in the Mena region, Europe and North America.




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