By: Mahmoud Gamal
Dubai – Mubasher: Emaar Properties’ shares may see strong collecting trend over the coming sessions on the back of the recent dividends, some analysts told Mubasher.
The company’s ordinary general meeting (OGM) approved on Sunday AED 4 billion dividends.
The negative impact of the less than expected dividends was already absorbed by the market, as investors are focusing now on the dividends, which could double their profits, said Al Safwa Mubasher’s CEO Ehab Rashad.
Emaar Properties’ extraordinary dividends will generate over AED 0.5 per share, which is a good return, he added, noting that investors, especially long-term investors, will keep the company’s shares to harvest the dividends’ fruits.
These dividends will reflect positively on the shares of both Emaar Properties and Emaar Development, Eyad Al Bariqi, director general of Al Ansari Financial Services, commented.
The approval of Emaar’s dividends will boost the Dubai Financial Market General Index (DFMGI) to break above 3,500 points and rise to 3,538 points, which could lead the index to 3,667-point level, the analyst concluded.
Translated by: Muhammad Khalid
