By: Amr Adel
Dubai - Mubasher: The shareholders of Dubai Investments has approved on Monday the distribution of cash dividends for fiscal year 2016 at 12 fils per share, which represents 12% of capital, as well as 5% bonus shares.
This means that last year’s dividends total AED 688.2 million, of which AED 485.8 million are in the form of cash dividends, and AED 202.4 million as bonus shares, which equals nearly half of last year’s profits.
The company’s board of directors (BOD) previously recommended the distribution of dividends to shareholders at 10% or 10 fils per share.
The eligibility of dividends will be to shareholders registered at the end of the trading session on Tuesday 18 April.
In 2016, profits grew 10% to AED 1.22 billion compared to AED 1.11 billion in the year before.
The company’s capital amounts to AED 4.049 billion distributed over 4.049 billion shares, with a par value of AED 1 per share.
