Dubai – Mubasher: Emaar Properties will not distribute any cash dividends for 2017, the UAE-based firm said, adding that the extraordinary dividends generated by Emaar Development’s offering were enough.
Emaar’s ordinary general meeting (OGM) will be held on 22 April to consider the distribution of AED 1 billion dividends, with per-share dividends of AED 0.14 for 2017, the Dubai-listed developer told CNBC Arabia on Thursday.
Aldar Properties and Emaar Properties have launched an AED 30 billion ($8.1 billion) joint venture (JV) to develop mega projects in the UAE and abroad.
Emaar Properties posted a 5% year-on-year increase in net profit during the fourth quarter of 2017, registering AED 1.36 billion.
