Dubai-based Emaar Properties is proposing a 10 per cent cash dividend for 2012, the property company said in a stock market filing on the Dubai Financial Market (DFM) on Tuesday morning.
The Emaar share price is up about 40 per cent year-to-date on the back of a recovery in the UAE’s real estate market, as well as an 18 per cent increase in its 2012 net profits to Dh2.12 billion.
Emaar’s board convened on Monday to discuss among other matters its dividend payout for last year. The board has set April 9, 2013, as the date for the annual general meeting of the company’s shareholder’s, the note signed by Ayman Hamdy, Emaar’s Executive Director-Legal, stated.
The company had distributed 10 per cent of its share capital as dividend in the previous two years as well.
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