November 29, 2023

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81 listed firms in UAE award Dh666 million to board members

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Knowledge from 48 firms listed on the Abu Dhabi market, accounting for a complete of Dh386.4 million in rewards, together with member bonuses, was accessible for assessment. In Dubai, 33 firms listed on DFM distributed round Dh279.3 million to their board members in 2022.

The evaluation additionally uncovered a spread of remuneration practices. Whereas some corporations selected to not present allowances or salaries for subcommittee assembly attendance, they did suggest bonus funds for board members. Conversely, a number of firms opted in opposition to providing any bonuses to their boards of administrators.

Amongst all companied analysed, Emaar Properties awarded its board members the very best rewards at Dh49.3 million. This included Dh7.4 million in bonuses for non-executive members and Dh1.18 million for committee conferences. The managing director of Emaar Properties was awarded a bonus of Dh36 million, whereas one other govt board member obtained a bonus of Dh1.77 million. The chairman of the board of administrators obtained Dh3 million for his extra tasks.

Other than the bonuses, the managing director of Emaar Properties additionally receives an annual wage of Dh12 million for his duties, along with journey bills.

First Abu Dhabi Financial institution secured the second place with a complete remuneration of Dh45 million. Dubai Electrical energy and Water Authority got here third with Dh39.5 million, whereas Fertiglobe stood fourth at Dh33.23 million.

Subsequent was e& at Dh32.59 million, adopted by Emirates NBD at Dh30 million. Abu Dhabi Business Financial institution was subsequent at Dh28 million.

On the eighth spot was TAQA with Dh24 million, adopted by ADNOC Distribution at Dh23.55 million.

Dubai Islamic Financial institution, Eshraq Investments, Borouge, Abu Dhabi Nationwide Motels, Abu Dhabi Aviation, Dana Gasoline, Waha Capital, Sharjah Islamic Financial institution and Alpha Dhabi have been the opposite prime firms that gave out most remuneration.

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