UAE’s Agthia Group announces interim cash dividend of Dhs65.31m for H1 2022

UAE-based food and beverage company Agthia Group has announced an interim cash dividend payment of Dhs65.31m for the six months ending June 30, 2022.

The shareholders approved the board’s proposal for the dividend payment at a value of 8.25 fils per share.

Agthia Group Shareholders approved the Board’s proposal for an interim cash dividend payment at a value of 8.25 fils per share, with a total value of AED 65.31 million for the 6 months period ending on 30 June 2022.#AgthiaGroup

— Agthia Group (@AgthiaGroup) September 15, 2022

Agthia recently H1 2022 revenues totalling Dhs2bn – up 51 per cent year-on-year. Its group net profit attributable to shareholders grew to Dhs118m for the same period, a 74 per cent rise compared to an year-earlier period, on the back of its acquisitions as well as cost optimisation efforts, the company said in a statement.

Read: Agthia Group’s H1 2022 net profit rises 74% to Dhs118m

In April 2021, the group adopted a semi-annual dividend policy, which aligns with its commitment to maximising shareholders’ returns, the statement added.

Agthia recently announced an Dhs90m investment in a manufacturing facility in Saudi Arabia to drive growth for its protein vertical.

Read more: UAE’s Agthia Group to invest Dhs90m into manufacturing facility in Jeddah

Also, in July 2022, the board approved the acquisition of a strategic 60 per cent stake in Auf Group, a healthy snacks and coffee manufacturer and retailer in Egypt.

Also read: EFG Hermes concludes advisory on Agthia’s majority acquisition of Auf Group