Dubai – Mubasher: Dubai Refreshments Company’s ordinary general meeting (OGM) agreed Sunday on distributing cash dividends at 70% of the capital for the fiscal year 2015, totalling AED 63 million ($17.15 million).
The company is capitalised at AED 90 million ($24.5 million) distributed across 90 million shares with a nominal value of AED 1 ($0.27), according to a bourse filing.
The OGM earlier approved cash dividends at 65% of the capital for the fiscal year 2014, totalling 58.5 million ($15.92 million).
Shareholders also adopted the annual reports and certain amendments in the company’s statute to comply with the country’s new commercial law.
Dubai Refreshments’ profit rose in the fourth quarter of 2015 by 1.6% to AED 34.3 million ($9.3 million) from AED 33.74 million in the same period of 2014.
The company’s stock rose 2.6% to AED 19.9 ($5.42) as 50.800 shares were exchanged at AED 1 million on March 10, the last session for the stock to see trading activity.
