Dubai Financial Market posts 124% rise in 2023 net profit
Market capitalisation increased by 18% to Dh688 billion last year
Dubai: Dubai Financial Market Company (PJSC) concluded 2023 on a high note after showcasing an increase of 124 per cent in net profit to Dh329.4 million, driven by a significant uptick in trading activities, capital inflow and a notable influx of new investors.
The earnings boost for the fiscal year ending on December 31 was complemented by the "introduction of an enhanced digital platform, the launch of an IPO accelerator program and the implementation of various innovative market initiatives."
As a result, the board proposed a cash dividend of Dh280 million, representing 3.5 per cent of the capital and 95 per cent of the total retained earnings available for distribution.
Helal Al Marri, Chairman of DFM said, "The Board is pleased to witness the robust outcomes stemming from our proactive initiatives and the substantial progress that DFM has made towards redefining our capital market and business landscape."
