Shares of Emaar Properties listed on the Dubai Financial Market rose during trading on Tuesday, after the company’s general assembly approved a proposal to distribute cash dividends to shareholders for last year.
During today's trading, at 10:54 am UAE time, the stock rose by 1.20 percent, reaching a price of 8.40 dirhams.
According to market data, the stock witnessed transactions of 1.131 million shares, worth 9.461 million dirhams, distributed over 114 transactions.
On Monday, the General Assembly of Emaar Properties approved a proposal to distribute cash dividends to shareholders worth 4.4 billion dirhams, equivalent to 50 fils per share, representing 50 percent of the capital for last year.
The General Assembly also approved the election of the Board of Directors members: Mohammed Al-Abbar, Butti Obaid Al-Mulla, Omar Bushahab, Mohammed Omar Karim, Jamal Bin Thaniya, Ahmed Jamal Jawa, Iman Abdul Razzaq, Abdullah Ali Ahmed Al-Falasi, and Ahmed Bin Meshar Al-Muhairi.
Emaar Properties, listed on the Dubai Financial Market, saw its profits rise by 70 percent year-on-year by the end of 2023.
It recorded a profit during 2023 of AED 11.6 billion (equivalent to $3.2 billion), compared to a profit of AED 6.8 billion during the same period in 2022.
The company's revenues during the year ending December 31 amounted to about 26.7 billion dirhams (about 7.3 billion dollars), a growth of 7 percent.
