By: Mahmoud Gamal
Dubai – Mubasher: Dubai Investments’ stock rose 2% in Tuesday’s early trades, backed by higher-than-expected dividends for fiscal year 2016.
The stock reached AED 2.52, generating AED 13.01 million from the exchange of 5.02 million shares by 10:15am UAE time.
The stock’s operational performance was backed by the company’s annual results and dividends which exceeded investors’ expectations, financial analyst Bashar Mahmoud said.
The company’s shareholders approved on Monday, 11 April, the distribution of 12% cash dividends for FY16 or 12 fils per share, in addition to 5% bonus shares.
Translated by: Julian Nabil
