Salik Company PJSC: A Year of Record Revenues and Generous Dividends

Salik Company PJSC, the exclusive toll gate operator in Dubai, has announced a record total revenue of AED 2.1 billion in 2023, marking a significant 11.4% YoY increase. The company's AGM approved the distribution of AED 550 million in cash dividends, representing 100% of the net profit for the second half of 2023.

Salik Company PJSC: A Year of Record Revenues and Generous Dividends

Summary

Salik Company PJSC, Dubai's only toll gate operator, has reported record revenues and approved generous dividends for the second half of 2023. The company's future prospects remain neutral.

Salik Company PJSC, the exclusive toll gate operator in Dubai, has concluded its Annual General Meeting (AGM), with significant financial achievements to report. The company announced a record total revenue of AED 2.1 billion in 2023, marking an impressive 11.4% year-on-year increase.

The AGM also approved the distribution of AED 550 million in cash dividends, equivalent to 7.3338 fils per share. This represents 100% of the net profit for the second half of 2023. The total cash dividends for 2023 amounted to AED 1,097,962,219, or 14.6395 fils per share, which is approximately 100% of the distributable net profit for 2023.

These financial results reflect the company's robust business model and its strategic positioning as the exclusive toll gate operator in Dubai. With eight automatic toll gates using Radio Frequency Identification (RFID) technology, especially on Sheikh Zayed Road, Salik plays a crucial role in Dubai's infrastructure.

The company's future prospects remain neutral. While the company has demonstrated impressive financial performance, the market conditions and the exclusive nature of the company's business model present limited opportunities for significant growth. Therefore, investors should consider these factors when making investment decisions.

Moreover, the company's AGM approved various Special Resolutions, including amendments to the company's Articles of Association and Corporate Social Responsibilities policy. These amendments reflect the company's commitment to good corporate governance and its efforts to align its operations with global best practices.

Given these considerations, it would be prudent for investors to hold their positions in the company and monitor market conditions and the company's performance closely.

Source

Press release

Summary

Salik Company PJSC, the exclusive toll gate operator in Dubai, has concluded its Annual General Meeting (AGM), approving the distribution of AED 550 million in cash dividends, equivalent to 7.3338 fils per share. This represents 100% of the net profit for the second half of 2023. The total cash dividends for 2023 amounted to AED 1,097,962,219, or 14.6395 fils per share, which is approximately 100% of the distributable net profit for 2023. The AGM also approved various Special Resolutions, including amendments to the company's Articles of Association and Corporate Social Responsibilities policy. The company reported a record total revenue of AED 2.1 billion in 2023, an increase of 11.4% YoY.

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