The DFM General Assembly approved the Board of Directors proposal to distribute 200 million dirhams in cash dividends for the year at 2.5% of the capital.
According to the newspaper, the association approved the company's budget and profit and loss account for the fiscal year ending on December 31, 2019.
The shareholders approved both the report of the Board of Directors on the company's activity and its financial position for the ending financial year, the report of the auditor, and the report of the Fatwa and Sharia Supervision Board.
The company enabled its shareholders to participate in the general assembly business remotely and electronic voting on its decisions through the electronic services page for investors on the market's website and smart phone applications.
During the meeting, members of the company’s board of directors were elected for the next three years, and includes Issa Abdel-Fattah Kazem, Rashid Hamad Al Shamsi, Muhammad Hamid Al-Marri, Musabah Muhammad Al-Qizi, Ali Rashid Al-Mazrouei, Adel Abdullah Al-Fahim, and Moza Saeed Al-Marri.
conclude deals
The shareholders agreed to two special decisions, the first of which was to agree to conclude deals with related parties (companies subject to government ownership / participation), provided that those deals did not exceed 30% Of the company’s capital, and that these transactions are presented to the general assembly in the future for approval.
The second special decision relates to agreeing to amend a set of articles of the company's articles of association, for example adding SMS messages to the means used to notify shareholders of the general assembly meetings.
The Dubai Financial Market Company achieved a net profit of 120.6 million dirhams, compared to 125.5 million in 2018, a decrease of 4%.
3067 new investors
The Dubai Financial Market attracted 3067 new investors, bringing the number of registered investors in the market to 844 thousand and 455 investors, according to what was stated in the annual market report for 2019. p>
The market maintained its attractiveness to foreign investment, as foreign investors' transactions recorded a net purchase of 2.8 billion dirhams, and foreigners accounted for 48.1% of market trading, and their ownership percentage reached 17.3% of the total market value.
The percentage of ownership of investment institutions from the total market value reached 83.6% at the end of 2019, and its share in trading reached 54.4%, according to the report.
Issa Kazim, Chairman of the Dubai Financial Market Board, said in a speech included in the introduction to the report that 2019 is truly a year of dedicating market leadership to ...
