By: Amr Adel
Dubai – Mubasher: The ordinary general meeting (OGM) of Emaar Malls on Tuesday approved the board’s recommendation of distributing 10% of capital as cash dividends for fiscal year 2016.
Emaar Malls will pay 10 fils per share to the entitled shareholders for FY16, with a total value of AED 1.3 billion ($353.9 million).
The shareholders also approved changing the number of the board members to be seven instead of nine members.
During FY16, the UAE company achieved a growth of 13.2% in profits to AED 1.874 billion from AED 1.656 billion in FY15.
