Dubai – Mubasher: Arabtec Holding’s shareholders approved distributing a cash dividend of 5 fils per share, representing 5% of the share’s nominal value, for the year ended 31 December 2018 during a general assembly meeting held on Tuesday.
“The dividend is in line with the Group’s dividend policy to pay out between 25% and 50% of net profits annually subject to applicable laws,” the UAE-based builder said in a statement to the Dubai Financial Market (DFM) on Wednesday.
The shareholders approved all the resolutions including the consolidated financial statements for the previous fiscal year, Arabtec noted.
The general assembly also agreed upon the appointment of Deloitte as the external auditors of the company for 2019.
It is worth noting that Arabtec posted a net profit of AED 256 million for 2018, 108.3% up from AED 123 million in 2017.
