Dubai, UAE – Salik Company, Dubai’s exclusive toll-gate operator, has agreed to distribute cash dividends of AED491,407,500 ($133,807,351) equivalent to 6.5521 fils per share, which represents 100 percent of the net profit of the second half of the fiscal year ended on 31 December 2022.
The company reported a net profit of AED 529 million ($144 million) for the second half of 2022, covering the period since the start of Salik’s concession agreement with the Roads and Transport Authority (RTA) until December 31, 2022.
In 2022, Salik’s revenue increased 11.8 percent YoY to AED 1,892 million ($515 million), primarily driven by a 12.6 percent rise in the number of revenue-generating trips resulting from ongoing recovery after the lifting of COVID-19 restrictions in Dubai.
“2022 marked a new chapter in Salik’s journey, and we are pleased to play a central role in Dubai’s ambitious IPO program, including the momentous listing of Salik in September 2022,” Mattar Al Tayer, Chairman of Salik’s Board of Directors, said. “We remain dedicated to collaborating closely with the government and other stakeholders in order to achieve our aspirations.”
Ibrahim Al Haddad, CEO of Salik, said that“Salik’s first AGM as a publicly listed company marks a significant milestone in our journey of growth and development.
