BRIEF-ADQ: UAE government contributed capital of AED 287 bln to the group
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April 29 (Reuters) - ABU DHABI SOVEREIGN WEALTH FUND ADQ:
UAE GOVERNMENT CONTRIBUTED CAPITAL OF AED 287 BILLION TO THE GROUP, PRINCIPALLY IN THE FORM OF OWNERSHIP INTERESTS IN COMPANIES AND LOAN ASSETS.
AUAE GOVERNMENT CONTRIBUTED 144 BILLION AED IN THE FORM OF FUNDING FOR ADQ TO MAKE EQUITY INVESTMENTS IN VARIOUS ENTITIES.
INVESTMENTS THAT ARE MADE AS PART OF ADQ’S SOVEREIGN INVESTMENT PARTNERSHIPS HAVE GENERALLY BEEN FUNDED BY THE GOVERNMENT.
ADQ HAS PAID OR DECLARED DIVIDENDS TO THE GOVERNMENT DIVIDENDS AMOUNTING TO AED 4 BILLION IN 2023, AED 4.102 BILLION IN 2022, AED 8.118 BILLION IN 2021.
SUBJECT TO THE APPROVAL OF THE BOARD, ADQ EXPECTS TO CONTINUE TO DECLARE AND PAY DIVIDENDS IN THE FUTURE BUT DOES NOT CURRENTLY HAVE A FORMAL DIVIDEND POLICY.
UAE NEW CORPORATE TAX REGIME WILL IMPACT THE GROUP’S FINANCIAL STATEMENTS FROM 1 JANUARY 2024 ADQ UNLESS ADQ OR ANY OF ITS UAE SUBSIDIARIES BEING SPECIFICALLY EXEMPTED BY A CABINET DECISION.
(Reporting by Hadeel Al Sayegh)
((nayera.abdallah@thomsonreuters.com;))
