Emaar to decide dividend soon
Emaar Properties Board of Directors will meet later this week to discuss - apart from other financial matters - dividends for 2013.
The developer has announced only cash dividend over the last few years.
Dubai-based property developer said in a statement to Dubai Financial Market that its Board will meet at 7pm on Thursday, March 13, to call “Annual General Meeting (AGM) and approving the AGM meeting agenda and discussing the dividends for 2013.”
Emaar declared 10 percent cash dividend for 2012, equivalent to about Dh609 million, at the 15th Annual General Meeting (AGM) held in Dubai in April 2013. It had announced 10 per cent dividend in 2010 also. But no dividends were declared for 2008 and 2009, citing reinvestment for "long-term growth". The developer, however, paid 20 per cent dividend for 2007.
In February 2014, Emaar announced net profit of Dh2.568 billion for 2013 as compared to Dh2.119 billion in the previous year, registering an increase of 21 per cent. Annual revenue for 2013 reached Dh10.328 billion, 25 per cent increase on 2012 revenues of Dh8.240 billion.
The Board of Directors will also discuss nomination of external auditors, strategy of the company and other matters.
Follow Emirates 24|7 on Google News.