The Board of Directors of Emaar Properties PJSC, the global property developer, has proposed the distribution of a cash dividend of 15 per cent of the company’s share capital for the year 2013 as well as 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.
Emaar Properties had recorded full-year 2013 net profit of Dh2.568 billion (US$ 699 million) and annual revenue of Dh10.328 billion (US$ 2.812 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 (US$ 1.307 billion) to FY’13 revenue, or 46 per cent of the total.
Emaar’s property business generated total revenue at Dh5.528 billion (US$ 1.505 billion). Revenues from the company’s global operations in 2013 were Dh1.167 billion (US$ 318 million), representing 11 per cent of the total revenue.