Emirates NBD PJSC (EMIRATES) headed for the highest close in more than a year on bets the biggest United Arab Emirates lender by assets may announce a higher dividend once it reports fourth-quarter results this week.
The shares rallied 6.1 percent to 3.50 dirhams at 12:28 p.m. in Dubai, poised for the strongest level since October 2011. About 2.6 million shares were traded today, five times the three-month daily average, according to data compiled by Bloomberg. The stock was the biggest gainer on the benchmark DFM General Index (DFMGI), which decreased 0.4 percent.
Emirates NBD’s fourth-quarter profit may more than double to 517 million dirhams ($141 million), according to the average estimate of six analysts surveyed by Bloomberg. The lender, which paid a cash dividend of 20 fils per share last year, has a 12-month dividend yield of 5.8 percent. That compares with 3.1 percent for the Bloomberg GCC 200 Financial Index. (BGCCFINL) The bank is due to report results Jan. 30, according to a statement to the Dubai bourse.
Emirates NBD Rallies High on Higher Dividend Bets: Dubai Mover - Businessweek
No comments:
Post a Comment