As Gulf markets show resilience amid expectations of a U.S. Federal Reserve rate cut and steady oil prices, investors in the Middle East are exploring opportunities to bolster their portfolios with dividend stocks. In such an environment, selecting stocks that offer stable and attractive dividends can be a prudent strategy to enhance portfolio income while navigating market fluctuations.
Top 10 Dividend Stocks In The Middle East
| Name | Dividend Yield | Dividend Rating |
| Saudi National Bank (SASE:1180) | 5.78% | ★★★★★☆ |
| Saudi Awwal Bank (SASE:1060) | 6.54% | ★★★★★☆ |
| Riyad Bank (SASE:1010) | 6.77% | ★★★★★☆ |
| National General Insurance (P.J.S.C.) (DFM:NGI) | 7.38% | ★★★★★☆ |
| National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) | 6.28% | ★★★★★☆ |
| Emirates NBD Bank PJSC (DFM:EMIRATESNBD) | 3.84% | ★★★★★☆ |
| Emaar Properties PJSC (DFM:EMAAR) | 7.19% | ★★★★★☆ |
| Delek Group (TASE:DLEKG) | 6.74% | ★★★★★☆ |
| Arab National Bank (SASE:1080) | 5.95% | ★★★★★☆ |
| Anadolu Hayat Emeklilik Anonim Sirketi (IBSE:ANHYT) | 6.69% | ★★★★★☆ |
Click here to see the full list of 63 stocks from our Top Middle Eastern Dividend Stocks screener.
Let's dive into some prime choices out of the screener.
National Central Cooling Company PJSC (DFM:TABREED)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: National Central Cooling Company PJSC, known as Tabreed, operates in the supply of chilled water both within the United Arab Emirates and internationally, with a market cap of AED8.44 billion.
Operations: Tabreed's revenue is primarily derived from its Chilled Water segment, which generated AED2.38 billion, and its Value Chain Business, contributing AED142.84 million.
Dividend Yield: 5.2%
National Central Cooling Company PJSC's dividend landscape presents a mixed picture. Despite recent earnings growth and a payout ratio of 76.4% indicating dividends are covered by earnings, the company's dividend history has been volatile and unreliable over the past decade. The current yield of 5.22% is below top-tier levels in the AE market, but dividends are supported by cash flows with a cash payout ratio of 47.6%. The company also carries a high level of debt, which may impact future payouts.
- Get an in-depth perspective on National Central Cooling Company PJSC's performance by reading our dividend report here.
- Upon reviewing our latest valuation report, National Central Cooling Company PJSC's share price might be too pessimistic.
AgeSA Hayat ve Emeklilik Anonim Sirketi (IBSE:AGESA)
Simply Wall St Dividend Rating: ★★★★★☆
Overview: AgeSA Hayat ve Emeklilik Anonim Sirketi operates in the pension and life insurance sector mainly in Turkey, with a market cap of TRY29.75 billion.
Operations: AgeSA Hayat ve Emeklilik Anonim Sirketi's revenue segments include Life Insurance - Retirement (TRY9.52 billion), Life Insurance - Cumulative Life (TRY2.04 billion), and Life Insurance - Personal Accident (TRY3.55 billion).
Dividend Yield: 3.4%
AgeSA Hayat ve Emeklilik Anonim Sirketi's dividend profile is marked by volatility, though recent growth in earnings and a low payout ratio of 23.8% suggest dividends are well-covered and sustainable. The dividend yield of 3.36% ranks in the top quarter of the Turkish market. Despite past instability, robust earnings growth—net income rose to TRY 1.42 billion for Q2—bolsters its potential as a reliable dividend payer moving forward.
- Click to explore a detailed breakdown of our findings in AgeSA Hayat ve Emeklilik Anonim Sirketi's dividend report.
- The valuation report we've compiled suggests that AgeSA Hayat ve Emeklilik Anonim Sirketi's current price could be quite moderate.
OYAK Çimento Fabrikalari (IBSE:OYAKC)
Simply Wall St Dividend Rating: ★★★★☆☆
Overview: OYAK Çimento Fabrikalari A.S., along with its subsidiaries, is involved in the production and sale of clinker and cement in Turkey, with a market capitalization of TRY104.53 billion.
Operations: OYAK Çimento Fabrikalari A.S. generates revenue primarily from its Cement segment, amounting to TRY27.41 billion, and its Ready-Mixed Concrete segment, which contributes TRY15.78 billion.
Dividend Yield: 4.7%
OYAK Çimento Fabrikalari's dividend yield of 4.65% places it among the top 25% in Turkey, yet its dividends are not covered by free cash flows and have shown volatility over the past decade. Despite a reasonable payout ratio of 71.9%, earnings alone cover dividends, raising concerns about sustainability. The company's recent earnings report showed a decline in both sales and net income compared to last year, highlighting potential challenges for future dividend stability.
- Delve into the full analysis dividend report here for a deeper understanding of OYAK Çimento Fabrikalari.
- Our valuation report unveils the possibility OYAK Çimento Fabrikalari's shares may be trading at a premium.
Turning Ideas Into Actions
- Access the full spectrum of 63 Top Middle Eastern Dividend Stocks by clicking on this link.
- Are these companies part of your investment strategy? Use Simply Wall St to consolidate your holdings into a portfolio and gain insights with our comprehensive analysis tools.
- Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.
Ready For A Different Approach?
- Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
- Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
- Find companies with promising cash flow potential yet trading below their fair value.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Valuation is complex, but we're here to simplify it.
Discover if AgeSA Hayat ve Emeklilik Anonim Sirketi might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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