Dubai – Mubasher: The board members of Deyaar Development approved cash dividend distribution for the first time in the company's history, according to a press release.
The board recommended distributing 4% of the share capital as dividend, which is valued at AED 175 million.
Subject to the approval of the general assembly, which is set to take place on 5 April, the listed company will pay out a dividend of 4 fils per share.
This decision marks a key chapter for Deyaar, reflecting its commitment to delivering long-term value to its shareholders.
Abdullah Al Hamli, Chairman of Deyaar, said: "This marks a significant achievement for Deyaar and reflects our steady growth trajectory.”
“In recent years, Deyaar has undergone a remarkable transformation, resetting in 2022 and reaping the rewards in 2023. Looking ahead, I am confident that this momentous milestone paves the way for continued success."
During January-December 2023, the real estate development company generated AED 440.71 million in net profit, an annual leap of 206% from AED 144.23 million.
