Union Properties shareholders have approved the distribution of a cash dividend of AED3 fils per share, marking the company’s first dividend payout in 11 years. 

The reinstatement of dividends represents a clear signal of the company’s financial strength, improved cash position, and renewed capacity to deliver consistent shareholder returns following a multi-year transformation, the company said following its Annual General Meeting (AGM).

The AGM, held on April 7, also marked the election of a Board of Directors for the next three-year term. The appointed board comprises: Shaikh Nasser Rashid Almoalla, Mohamed Fardan Al Fardan, Amer Abdulaziz Khansaheb, Ahmed Salem Alhosani, Ahmad Bin Mohammad Al Qassimi, Khaled Nasser Al Shamsi and Rana Abdelkarim Shashaa.

Strong financial performance 

During the meeting, Mohamed Fardan Ali AlFardan, Chairman of the Board of Directors of Union Properties, highlighted the company’s robust financial performance. Total revenue reached AED736.9 million, representing a 39.4 per cent increase compared to AED528.7 million in 2024. Operating profit rose to AED240.7 million, up from AED161.8 million in 2024, while cash reserves climbed to AED494.2 million, reflecting one of the strongest liquidity positions in recent years.

Eng Amer Khansaheb, CEO and Board Member of Union Properties, stated: “The approval of our first dividend in over a decade marks a defining moment for Union Properties and a clear validation of the progress we have made over the past 4 years. This milestone, alongside the appointment of a Board, signals the beginning of a new era for the Company, one grounded in financial strength, disciplined execution, and a clear commitment to delivering sustainable, long-term returns for our shareholders.” -TradeArabia News Service