Amanat Holdings Shareholders Approve Share Buyback Program and AED 100 Mn Dividend for 2022
April 18, 2023
18 April 2023 | Dubai | Amanat Holdings PJSC (“Amanat” or the “Company”), the leading healthcare and education listed investment company, confirms shareholder approval of a share buyback program for up to 5% of the company’s outstanding shares and a dividend distribution of AED 100 million for the full year 2022, which amounts to 4 fils per share or 88% of profit attributable to equity holders.
The share buyback program, which will be financed through existing cash reserves, will enable an optimized capital structure and enhance value creation. The buyback price per share will be set up to the current book value per share, representing a 19% premium over the ex-dividend market price at the close of trading on 17 April 2023.
Dividend of AED 100 million, amounting to 4 fils per share or 88% of profit for 2022
Launches share buyback program for up to 5% of outstanding shares
Reiterates strong growth and value creation opportunities
Amanat’s Chairman, Hamad Abdullah Alshamsi, said:
“Amanat’s share buyback program underscores our belief that Amanat’s 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.”
“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 concluded.
Dividend History (AEDm / Yield)
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About Amanat Holdings PJSC
Amanat Holdings PJSC is the region’s largest integrated healthcare and education investment company with paid-up capital of AED 2.5 billion. Listed on the Dubai Financial Market (DFM) since 2014, Amanat’s mandate is to establish, acquire and integrate companies in the healthcare and education sectors, and develop, manage, and operate these companies within the MENA region and beyond.
Amanat’s healthcare platform includes Cambridge Medical and Rehabilitation Center (CMRC), a leading post-acute care and rehabilitation provider in the UAE and KSA; Sukoon, a leading provider of long-term and post-acute care services ranging from extended critical care and home care medical services in Jeddah, Saudi Arabia, Al-Malaki Specialist Hospital, a world-class specialist hospital located in the Kingdom of Bahrain, and the real estate assets of Cambridge Medical and Rehabilitation Center in Abu Dhabi, UAE.
Amanat’s education platform includes NEMA Holding, a leading provider of higher education in the UAE, Middlesex University Dubai, the first overseas campus of the internationally renowned Middlesex University in London, Human Development Company the leading provider of special education and care services covering educational, medical, and rehabilitation services in KSA, a small stake in BEGiN, a US-based award-winning education technology company, and the real estate assets of the North London Collegiate School in Dubai, UAE.