Dubai Investments confirmed the statements of Khalid bin Kalban, Vice Chairman and Chief Executive Officer of the company, regarding its intention to distribute cash dividends to shareholders for the year 2020.
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The company indicated in an explanatory statement to the Dubai Financial Market, today, Monday, that the distribution percentage will be determined during the Board of Directors meeting.
The Vice Chairman and Chief Executive Officer of Dubai Investments Company confirmed recently that the company intends to distribute cash dividends to shareholders for the past year.
Khaled bin Kalban added, according to CNBC Arabia, that the distribution percentage will be determined during the Board of Directors meeting, and he is expected to be close to the distributions in 2019. < / p>
Bin Kalban indicated that the volume of liquidity in the company is estimated at 2.2 billion dirhams.
With regard to the decline in the company's profits during the year 2020, he said that this is due to the general and global economic conditions, as the fair value of real estate assets decreased, forcing the company to take allocations of 480 One million dirhams.
It is noteworthy that the profits of Dubai Investments Company fell to 347.9 million dirhams at the end of last year, compared to a profit of 657.4 million dirhams in 2019, a decrease of 47.1%.
