Dubai: The Bahrain based investment firm GFH is distributing a 6.2 per cent cash dividend for 2023, a period in which profit totalled $105.22 million from total income of $369.5 million. (The dividend works out to Dh0.06 a share.)
The GFH stock – listed on four GCE exchanges, including DFM and ADX – has been on the climb since early January, and most recently has been buoyed by its share buyback program.
The plan is to repurchase up to 10 per cent of the total issued shares, subject to approval from the Central Bank of Bahrain. On Monday, the stock is trading at Dh1.09 on DFM, down 1.8 per cent as of 11.15am. (GFH consistently has gone in for a buyback program in recent quarters.)
"Following another year of solid financial performance, we continue to focus on implementing the Group’s strategy and delivering top- and bottom-line growth,” said Ghazi Al Hajeri, Chairman. “We are also happy to announce that shareholders have authorized the payout of another healthy dividend, as the Group remains focused on creating value for its shareholders.
“We will continue to build on this momentum in 2024 and are committed to further progress and growth in the year ahead.”
GFH, which has a diversified portfolio of investments, is doubling down on real estate specific deal-making, including in the US.
