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PureHealth proposes first dividend after Abu Dhabi listing

By Pramod Kumar
Indoors, Interior Design, Outdoors The dividend proposal will need shareholders’ approval at the annual general meeting in April PureHealth
PureHealth's dividend proposal will need shareholders’ approval at the annual general meeting in April

Healthcare group PureHealth is planning its first dividend distribution after listing on the Abu Dhabi Securities Exchange (ADX) in December 2023, the company said in a statement.

The board of directors has recommended a total dividend of AED343 million ($93.4 million), or AED 3.09 fils per share, for 2024, representing 20 percent of the group’s net profit.

The stock was trading 1 percent higher at AED2.91 on Tuesday morning.

The dividend proposal will, however, need shareholders’ approval at the annual general meeting on April 9, 2025.

The remaining profit will be retained to provide financial flexibility to support growth plans and potential global expansion opportunities.

The company’s revenue surged 58 percent year on year to AED25.8 billion, while net profit rose 78 percent annually to AED1.7 billion.  

In January, PureHealth agreed to purchase a 60 percent stake in Hellenic Healthcare, an Athens-based private healthcare services provider.

The company listed in December 2023 at a price of AED3.26 per share.

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