Dubai Investments approve 12% dividend, to enter healthcare

Company also presented its 2015 financial results to shareholders

Dubai Financial Market-listed Dubai Investments has approved payment of 12 per cent cash dividend to the shareholders at its Annual General Meeting held on Wednesday.
 
The company also presented its 2015 financial results to the shareholders, which revealed a net profit of Dh1.1 billion for 2015 and assets of Dh15.3 billion as of December 31 2015 – an increase of Dh800 million over 2014. For 2015, equity attributable to owners of the company reached Dh10.71 billion against Dh10.11 billion for 2014.
 
The company expects this investment strategy to add around Dh20 billion in assets over the next three to five years.
 
Presenting an optimistic outlook for 2016, the report said: “Although the beginning of 2016 was challenging, conditions are improving gradually and we hope that there will be a progressive market improvement during the year. We plan to continue our commitment to diversify into new sectors, enhance our geographical footprint and continue to target new opportunities with a focus on increasing asset base, strengthening bottom line and improving operational efficiency.”
 
The company continued with its drive to grow its property sector which accounts for around 58 per cent of its total assets.  It’s manufacturing and contracting business also witnessed significant growth in 2015, driven by the increasing demand for building materials across the region. To meet this demand, Emirates Extrusion – a subsidiary of Masharie, the private equity arm of Dubai Investments, announced a third production line to increase capacity by 7,000 tonnes while Dubai Investments Industries recently announced a new aluminum rolling plant in Abu Dhabi via a joint venture with DUBAL Holding and Singapore-based MARS.
 
In line with the company’s corporate strategy of diversification and building long-term shareholder value, the company entered the healthcare and education sectors in 2015 through investments in Austria-based MODUL University’s first campus in Dubai and in London’s King’s College Hospital, with plans to open the multi-specialty King’s College Hospital Dubai in 2018, and a number of clinics in 2016 and 2017.

 

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