ABU DHABI: Agthia Group PJSC, one of the region’s leading agribusiness companies, held its general meeting virtually today.
During the meeting, the shareholders approved the proposal of the board of directors to pay an interim cash dividend of a value of 8.25 fils per share, with a total value of 65.31 million AED for the 6 month period ending June 30, 2022.
Agthia recently posted strong first half results with revenue reaching AED 2 billion, up 51% year-on-year. The group’s net profit attributable to shareholders reached AED118 million for the period, an increase of 74% compared to H1 202, reflecting the impact of the group’s recent acquisitions as well as its cost optimization efforts in as part of its five-year growth strategy. .
In April 2021, as part of the launch of its 2025 Strategy to become a restaurant leader in MENAP and beyond, the Group adopted a semi-annual dividend policy, which aligns with its commitment to maximize yield shareholders. The semi-annual dividend policy recognizes the Group’s growing size and improved financial profile while maintaining the ability to deploy capital through a disciplined M&A strategy.
Agthia recently announced an investment of AED 90 million in a manufacturing facility in Saudi Arabia to drive growth in its protein vertical and in response to strong demand from local customers. Additionally, in July 2022, the Board of Directors approved the acquisition of a 60% strategic stake in Auf Group, a manufacturer and retailer specializing in healthy snacks and coffee in Egypt.