Amanat Holdings, which specializes in healthcare and education investments throughout the MENA region, has revealed plans to repurchase 5% of its outstanding shares using its existing cash reserves. Additionally, the company has announced a dividend distribution of AED 100M ($27.23M) for the full year 2022, equating to 4 fils per share, or 88% of its profits.
The share buyback program aims to optimize Amanat Holdings’ capital structure and increase value creation, with the buyback price per share being set up to the current book value per share – offering a 19% premium over the ex-dividend market price at the close of trading on April 17th. As of April 19th, shares had closed at 93 fils, according to Arabian Business.
Hamad Abdullah Alshamsi, chairman, Amanat, said: “The share buyback programme 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.”
