Dividend Trends in the GCC: A Survey

Abstract

This study examines the dividend intensity trends in the GCC Markets. Each country has a stock market, whereas the UAE has two. This study was based on 759 listed companies in the various stock markets in the GCC. The sample firms for this study was selected on the basis of the criterion that the firms have paid at least one percent cash dividends in terms of book value per share during the period of study which is 2012-2014. The study found that about 60 percent of the total listed companies in the GCC markets have paid cash dividends during the three-year period 2012-2014. The highest being Qatar, where 57% companies listed in the Qatar Stock Exchange paid dividends during this period, which is followed by Oman where 79% of companies listed in the Muscat Stock Market paid dividends. This was followed by Bahrain with 70%, Saudi Arabia with 57%, the UAE with 53%, and Kuwait where only 48% of listed companies paid dividends during the period of study.