Dubai – Mubasher: Emaar Development on Sunday announced that its board of directors proposed distributing a special dividend (interim dividend) of AED 0.26 per share.
This dividend is part of the company’s total dividend that will be declared for the financial year 2018, according to the company’s statement to the Dubai Financial Market (DFM).
On Thursday, the board proposed the distribution of AED 1.04 billion in cash dividends, or 26 fils per share, to shareholders, accounting for 26% of share capital.
The general assembly is set to discuss this proposal on 17 October, according to the statement.
For the first half of 2018, Emaar’s revenues hiked 119% year-on-year to AED 6.99 billion, from AED 3.19 billion in H1-17.
By 10:27 am UAE time, Emaar’s stock rose 0.57% at AED 5.25.
