Emaar proposes 15pc cash dividends
Dubai, March 15, 2014
Emaar Properties said its board of directors has proposed the distribution of a cash dividend of 15 per cent of the company’s share capital for 2013 along with 10 per cent bonus shares to shareholders.
The proposal was put forth at a meeting of the Board, which also discussed the company’s growth strategy for the current year.
It will be submitted for approval by the shareholders at the company’s Annual General Meeting (AGM) in April 2014, said the Dubai developer in a statement.
Emaar Properties had recorded full-year 2013 net profit of Dh2.568 billion ($699 million) and annual revenue of Dh10.328 billion.
The company’s strong performance was underlined by recurring revenues from the company’s shopping malls & retail and hospitality & leisure business units, which together contributed Dh4.8 billion to FY’13 revenue, or 46 per cent of the total.
Emaar’s property business generated total revenue at Dh5.528 billion. Revenues from the company’s global operations in 2013 stood at Dh1.167 billion, representing 11 per cent of the total revenue.-TradeArabia News Service