15 September 2026
Companies in the UAE paid USD 13.6 billion (about AED 49.9 billion) in dividends in the second quarter of 2026, according to the latest edition of the Janus Henderson Global Dividends and Buybacks Index, reported on 15 September 2026. Underlying growth reached 7.3% year on year, ahead of Saudi Arabia at 2.4% and the Middle East average of 5.5%. The UAE ranked second in the region with 30.4% of all Middle East payouts, which totalled USD 44.6 billion (about AED 163.8 billion), while dividends worldwide reached a quarterly record of USD 757.8 billion.
What the index shows for the UAE
Janus Henderson, the global asset manager, compiles the index every quarter and follows the dividends and share buybacks of the 1,500 companies in its global benchmark. In the edition covering April to June 2026, UAE companies distributed USD 13.6 billion to shareholders. That is 30.4% of the Middle East total and puts the UAE second in the region, behind Saudi Arabia.
The growth rate is what stands out in the regional comparison. Underlying dividends in the UAE rose 7.3% from the second quarter of 2025, faster than in Saudi Arabia (2.4%) and faster than in the Middle East as a whole (5.5%). Janus Henderson publishes two growth rates. Headline growth compares total payouts with a year earlier, while underlying growth adjusts for factors that distort that comparison, including the timing of payments. For the Middle East, headline growth was 6.9%, above the underlying figure, which the report attributes to calendar and timing effects.
The index reports all amounts in US dollars. AED equivalents in this article use the fixed rate of AED 3.6725 per US dollar.
Middle East dividends in Q2 2026 by market
| Market | Dividends, Q2 2026 | AED equivalent | Share of regional payouts | Growth year on year |
|---|---|---|---|---|
| Saudi Arabia | USD 28.4 billion | AED 104.3 billion | 63.6% | 2.4% |
| UAE | USD 13.6 billion | AED 49.9 billion | 30.4% | 7.3% |
| Kuwait | USD 1.8 billion | AED 6.6 billion | not reported | 45% |
| Israel | USD 900 million | AED 3.3 billion | not reported | 25.2% |
| Middle East, total | USD 44.6 billion | AED 163.8 billion | 100% | 5.5% (headline 6.9%) |
Growth for Saudi Arabia, the UAE, Kuwait and the regional total is underlying growth. For Israel, the report as quoted by Khaleej Times does not specify the basis.
Saudi Aramco alone accounted for almost half of all dividends paid in the region. It remained the largest dividend payer in the world in the quarter and contributed 3.1% of all dividends paid by the 1,500 companies in the global index. Kuwait delivered the fastest growth in the region at 45%, from a much smaller base of USD 1.8 billion.
The global picture
Worldwide, dividends reached a record USD 757.8 billion in the second quarter, with underlying growth of 7.3%, the same rate as in the UAE. Every region in the index posted positive underlying growth. Headline growth was lower at 3.2%, mainly because of shifts in when dividends were paid. The Middle East accounted for about 5.9% of global dividend payments.
Share buybacks grew much faster than dividends. Companies in the index repurchased USD 572 billion of their own shares, up 26.8% year on year. Technology became the largest source of buybacks with USD 121.1 billion and also posted the fastest underlying dividend growth of any sector at 23.5%. Financials remained the largest dividend paying sector with USD 239.7 billion, almost a third of all payouts in the index.
Buybacks are still small in the region
The Middle East remains a dividend market. Janus Henderson estimates regional buybacks at just USD 600 million in the second quarter, against USD 44.6 billion of dividends over the same period. The UAE accounted for around USD 200 million of that figure and Saudi Arabia for approximately USD 100 million.
For the UAE, the quarter therefore looks like this:
- USD 13.6 billion paid as dividends, about AED 49.9 billion.
- Around USD 200 million returned through share buybacks.
- 30.4% of all dividends paid in the Middle East.
- 7.3% underlying dividend growth year on year, in line with the global rate.
- Second place in the region, behind Saudi Arabia with USD 28.4 billion.
What Janus Henderson expects for 2026
Janus Henderson forecasts global dividend growth of 5 to 6% in 2026 and buyback growth of 7 to 8%, supported by corporate earnings, strong cash generation and continued capital returns from financial and technology companies. The asset manager said dividends remain well protected, because companies generally prioritise regular shareholder distributions even during periods of economic uncertainty.
Meshal AlFaras, Managing Director and Head of Middle East, Africa and Central Asia at Janus Henderson Investors, said the latest figures show the growing contribution Middle Eastern companies are making to global dividend income. In his words, Saudi Arabia remains the dominant dividend market in the region, the UAE continues to record healthy growth and Kuwait saw a particularly strong increase this quarter.
What this means for companies and investors in the UAE
The index does not change any rule, fee or procedure. It puts numbers on a trend that is already visible in company reporting. In early September, Kamco Invest reported that net profit of UAE listed companies rose 28.6% to USD 21.6 billion in the second quarter of 2026, and the Dubai Financial Market added 59,108 new investor accounts in the first eight months of the year. Profits, investor numbers and cash payouts to shareholders are moving in the same direction.
For a company that holds shares in UAE companies, the tax treatment of those dividends is written into law. Under Article 22 of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses, dividends and other profit distributions received from a juridical person that is a UAE resident are exempt income and are not taken into account when taxable income is determined. Dividends from foreign companies fall under the separate participation exemption conditions of Article 23 of the same law, so for a group with shareholdings abroad the answer depends on its structure.
There is also a practical side. Cash dividends need an account to land in, so for a company that invests from the UAE the bank account is part of the setup rather than an afterthought. Our guide to opening a bank account in the UAE covers that step, and for founders deciding where to place a holding entity, the UAE company formation guide compares the main routes.
How Atlant Capital can help
Dividend statistics are a capital markets story. Our part of the work sits underneath an investment: the company that holds the assets, the licence it operates under and the bank account where the income arrives.
- Company setup: choosing the jurisdiction and licence for an operating or holding company in the UAE.
- Bank account opening: preparing the file for a corporate account that receives dividends and other income.
- Work visas and residency: residency for owners who move to the UAE together with their company.
Conclusion
The second quarter figures give the UAE a clear second place in the Middle East dividend market: USD 13.6 billion paid, 30.4% of the regional total and underlying growth of 7.3%, ahead of both Saudi Arabia and the regional average. Saudi Arabia still pays most of the dividends in the region, largely through Aramco, and buybacks across the Middle East remain small next to dividends. Globally, payouts set a quarterly record of USD 757.8 billion. The index is a statistic rather than a policy change, and nothing in it alters the rules for companies in the UAE.
Source: Khaleej Times.
FAQ
How much did UAE companies pay in dividends in Q2 2026?
UAE companies paid USD 13.6 billion in dividends in the second quarter of 2026, about AED 49.9 billion at the fixed rate of AED 3.6725 per US dollar. That is 30.4% of all Middle East payouts and second place in the region after Saudi Arabia, according to the Janus Henderson Global Dividends and Buybacks Index reported on 15 September 2026.
Did UAE dividends grow faster than Saudi Arabia in Q2 2026?
Yes. Underlying dividend growth in the UAE was 7.3% year on year, compared with 2.4% in Saudi Arabia and 5.5% for the Middle East as a whole. Saudi Arabia still paid far more in absolute terms, USD 28.4 billion or 63.6% of the regional total, and Kuwait posted the fastest growth at 45% to USD 1.8 billion.
What were global dividends and buybacks in Q2 2026?
Global dividends reached a record USD 757.8 billion in the second quarter of 2026, with underlying growth of 7.3%. Share buybacks rose 26.8% to USD 572 billion, led by technology and financial companies. Janus Henderson forecasts global dividend growth of 5 to 6% and buyback growth of 7 to 8% for 2026.
Are dividends received by a UAE company subject to corporate tax?
Under Article 22 of Federal Decree-Law No. 47 of 2022, dividends and other profit distributions that a company receives from a juridical person resident in the UAE are exempt income and are not included in taxable income. Dividends from foreign companies fall under the separate participation exemption conditions set out in Article 23 of the same law.
