Dunia Group's 2015 dividend up 97%

Dubai - Dunia Finance declares a full year payment of Dh109 million

Dunia Group has announced total dividend payments of Dh142 million for 2015, a 97 per cent increase from Dh72 million in 2014, reflecting the firm's record profitability and strong business momentum.

The group's financial services arm, Dunia Finance, declared a full year payment of Dh109 million, while Dunia Services, the knowledge sharing and consultancy business arm, announced its first full year dividend payment of Dh33 million. Combined, both payouts account for 56.6 per cent of dunia's 2015 net income of Dh250.9 million.

Of particular note last year was the performance of Dunia Services. Incorporated less than four years ago with an initial paid-up capital of Dh300,000, the unit recorded net income of Dh33.5 million in 2015.

The dividend pay-out accounts for 25.8 per cent of paid-up capital for Dunia Group.

Dunia's ability to acquire new customers and deepen existing customer relationships remains a key profit driver. Maximisation of value creation through cross selling has also contributed to increased revenue and balance sheet growth. The group's strong financial footing is backed up by an unsupported 'BB' credit rating from Fitch following a rating upgrade in 2015.

Salem Rashid Al Noaimi, chairman of Dunia Group, said: "We are delighted to have significantly increased returns to our shareholders in 2015. This reflects our strong financial performance over the last year, strengthened capital base and the company's continuing strong momentum. We are also delighted that Dunia Services has been able to pay a full-year dividend for the very first time, which is a testament to its strong performance and growth potential."

Rajeev Kakar, managing director and CEO of Dunia Group, said: "In 2015, we were able to demonstrate substantial progress in becoming the provider of choice for financial services in the UAE. The group is well positioned for long-term growth, and as a result, we have been able to make a large increase in dividend payments to our shareholders. We remain committed to continuing to invest in excellence through innovative products and services delivered through new-age technology solutions in line with the evolving needs of customers, to ensure Dunia's continued strong growth ahead."

- business@khaleejtimes.com