Emaar Malls defined, in a statement, a copy of which was obtained by Namazone, the timing of the fourth annual meeting of its General Assembly at two in the afternoon on Tuesday, April 23, 2019.
The meeting will discuss the proposal of the Board of Directors regarding the distribution of cash dividends amounting to 1.301 billion dirhams (354 million dollars), equivalent to 10% of the share capital of the company, or 10 fils per share, to the shareholders.
According to the statement, the general assembly will discuss and approve the report of the board of directors on the company's activity and financial position during the year ended December 31, 2018, as well as discuss and approve the auditor's report and the company's balance sheet, in addition to appointing an auditor Accounts for 2019.
Emaar Malls is one of the largest operators of shopping centers in the world, with 6.7 million square feet of rental space. During the year 2018, the company achieved a net profit of 2.230 billion dirhams ($ 607 million) during the fiscal year 2018, a growth of 7%, compared to the net profit of 2017, and the fiscal year 2018 revenues reached 4.446 billion dirhams ($ 1.210 billion), a growth of 23% Compared to 2017 revenue.
It is worth noting that Emirati companies led the Middle East companies in dividends during 2018, and according to Emirates News Agency, the total value of distributions obtained by shareholders of Emirati companies reached approximately 39 billion dirhams, to achieve a growth of 21.8% Compared to distributions worth 33 billion dirhams in 2017.
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