Thursday, 14 December 2017 02:12 GMT
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UAE- Dh8 billion Emaar bonanza for its shareholders

(MENAFN - Khaleej Times) This includes 15 per cent cash dividend ? equivalent to about dh975 million ? and 10 per cent bonus shares or 650 million shares valued at about dh7.

in a step certain to boost investor confidence and in tandem with the soaring property sector emaar properties on wednesday announced distribution of over dh8 billion ($2.18 billion) in cash and bonus shares to shareholders.

this includes 15 per cent cash dividend — equivalent to about dh975 million — and 10 per cent bonus shares or 650 million shares valued at about dh7.12 billion at dh10.95 a piece as at april 23 2014.

the global property developer at its 16th annual general meeting (agm) held in dubai also high-lighted its achievements contribution to dubai’s economy and future growth strategy.

mohamed alabbar chairman of emaar properties said the confidence and trust of the company’s stakeholders enabled the company to focus on its growth strategy of creating prime real estate assets business segmentation and geographic expansion to deliver long-term value.

alabbar said that the company will draw on the robust economic growth of dubai led by the preparations to host the best expo ever in 2020. “emaar will continue to create robust cities of the future in dubai and other international markets. we have the financial fundamentals and global market credentials to be world’s most admired property and lifestyle developer.”

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UAE- Dh8 billion Emaar bonanza for its shareholders

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