Dubai – Mubasher: Shuaa Capital has denied what it called “misstated” reports regarding the company’s loans, which revealed that it reached around AED 350 million, noting that the real figure stands at AED 50 million,
After reducing its accumulated losses, Shuaa expects positive results in both 2018 and 2019, according to a bourse statement on Wednesday.
“By that time the company will be able to absorb all the accumulated losses and achieving accumulated profits and this will enable it to distribute profits according to [the announced] dividend policy,” the Dubai-listed firm stated.
Shuaa should pay at least 50% of its profits in dividends, once it achieves profits, it added.
Earlier in April, Shuaa’s CEO Fawad Tariq Khan told CNBC Arabia that he did not believe the firm would be able to distribute any dividends in 2018.
