BRIEF-ADQ: UAE government contributed capital of AED 287 bln to the group

Dow Jones Industrial Average +0.59%
Citigroup Inc. +0.51%
CALIFORNIA GRAPES INTL INC 0.00%
First Trust Multi Cap Value +0.36%
ING Groep NV 6.2 % Perpetual Debt Secs 2003-Without Fixed Maturity 0.00%

Citigroup Inc.

C

67.61

+0.51%

First Trust Multi Cap Value

FAB

84.02

+0.36%

ING Groep NV 6.2 % Perpetual Debt Secs 2003-Without Fixed Maturity

ISP

26.10

0.00%

Dow Jones Industrial Average

DJI

41198.08

+0.59%

CALIFORNIA GRAPES INTL INC

CAGR

NaN

- ABU DHABI SOVEREIGN WEALTH FUND ADQ:

  • UAE GOVERNMENT CONTRIBUTED CAPITAL OF AED 287 BILLION TO THE GROUP, PRINCIPALLY IN THE FORM OF OWNERSHIP INTERESTS IN COMPANIES AND LOAN ASSETS.

  • AUAE GOVERNMENT CONTRIBUTED 144 BILLION AED IN THE FORM OF FUNDING FOR ADQ TO MAKE EQUITY INVESTMENTS IN VARIOUS ENTITIES.

  • INVESTMENTS THAT ARE MADE AS PART OF ADQ’S SOVEREIGN INVESTMENT PARTNERSHIPS HAVE GENERALLY BEEN FUNDED BY THE GOVERNMENT.

  • ADQ HAS PAID OR DECLARED DIVIDENDS TO THE GOVERNMENT DIVIDENDS AMOUNTING TO AED 4 BILLION IN 2023, AED 4.102 BILLION IN 2022, AED 8.118 BILLION IN 2021.

  • SUBJECT TO THE APPROVAL OF THE BOARD, ADQ EXPECTS TO CONTINUE TO DECLARE AND PAY DIVIDENDS IN THE FUTURE BUT DOES NOT CURRENTLY HAVE A FORMAL DIVIDEND POLICY.

  • UAE NEW CORPORATE TAX REGIME WILL IMPACT THE GROUP’S FINANCIAL STATEMENTS FROM 1 JANUARY 2024 ADQ UNLESS ADQ OR ANY OF ITS UAE SUBSIDIARIES BEING SPECIFICALLY EXEMPTED BY A CABINET DECISION.


(Reporting by Hadeel Al Sayegh)

((nayera.abdallah@thomsonreuters.com;))

Every question you ask will be answered
Scan the QR code to contact us
whatsapp
Also you can contact us via