Dubai – Mubasher: Damac Properties’ ordinary general meeting (OGM) has approved the distribution of AED 907.5 million in cash dividends, with a per-share dividend of AED 15.
Damac’s board last proposed the distribution of AED 25 per share in dividends, according to a company statement released on Monday.
The Dubai-listed developer’s capital amounts to AED 6.05 billion divided into 6.05 billion shares.
In February, Damac reported a 46.7% year-on-year drop in profits for the fourth quarter of 2017, registering AED 455.3 million ($123.93 million).
