Six companies listed on the Iraq Stock Exchange (ISX) decided to distribute cash dividend with high yields in the first half of 2022.
DUBAI, United Arab Emirates-Tuesday 21 June 2022 [ AETOS Wire ]
Six companies listed in Iraq Stock Exchange (ISX) distributed healthy cash dividends, with Asiacell leading the way with an 11.8% dividend yield. The company is the second-largest mobile operator in Iraq, with the greatest number of subscribers and the most extensive in terms of revenue market share.
According to Rabee Securities, many Iraqi listed companies are healthy with positive cash flow for various reasons such as increased purchase power and better economic fundamentals with stable and improved oil prices, which are the backbone of Iraq's economy.
Baghdad Soft Drinks announced dividend with a yield of 5.3%. The company is a PepsiCo International franchisee and the largest listed industrial company on the ISX that produces and distributes PepsiCo's soft drink brands in the middle and the southern regions of Iraq.
Iraqi for Seed Production announced dividend with a yield of 5.2%, while Baghdad Hotel , a hotel that opened in 1958 with 160 rooms, announced to distribute dividend with a yield of 3.2%.
Trust International Islamic Bank that was a money transfer company before announced to distribute dividend with a yield of 2.9%, and Al-Mamoura Realestate Investment Company declared to distribute dividend at a yield of 2.0%.
Between 2019 and 2021, Asiacell and Baghdad Soft Drinks distributed cash dividends yearly with a yield range of 7.4% to 14.3% and 2.9% to 5.6%, respectively.
Mohammed Al Barazenjey