Middle East companies distributed $29.2 billion in dividends during the first quarter of 2026. The market saw stable corporate earnings despite higher interest rates, geopolitical tensions, and trade uncertainty.
Underlying dividend payments across the region increased 4% year-over-year, according to the inaugural Janus Henderson Global Dividend and Buyback Index. The findings highlight resilient shareholder returns despite an increasingly volatile global economic backdrop.
Saudi Arabia is still the leading country in dividend payouts within the Middle East. The firms listed in Saudi Arabia paid out around $24.5 billion in dividends, representing almost 84% of total Middle East dividends.
Qatar stood second on the list with $2 billion in dividend payouts, while the UAE companies paid out $1.7 billion in dividends. However, the lower amount of dividend payouts in the UAE was mainly due to the timing of a dividend distribution by Dubai Islamic Bank.
Saudi Aramco came as the largest contributor to the Saudi Arabia dividend story. The company paid out $21.9 billion in base dividends for the first quarter, up by 3.5% from last year.
Looking at the current reports, Jane Shoemake, Client Portfolio Manager, Global Equity Income Team at Janus Henderson, said, “Amidst what feels like an increasingly uncertain macro backdrop, the surprise has been the strength of earnings around the world. Those earnings almost always result in higher dividends, and that’s exactly what we’re now seeing across a range of industries and regions.”
Base materials experienced the greatest increase in their dividend growth. All thanks to the growing need for critical minerals linked to the expansion of AI-powered infrastructure. Looking ahead, global dividends are expected to increase 8.3% next year, while buybacks will decrease 1.1%.
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