Shareholders of Damac approve 15% dividend

Damac

Properties said yesterday its shareholders approved for distribution of 15 per cent cash dividends at its annual general meeting. The shareholders also approved the financial statements and auditors report for the year ending December 2015, the company said in a statement posted on Dubai Financial Market’s website. Damac reported a rise in net profit in 2015 even as revenues doubled. Damac reported net profit of Dh4.51 billion in 2015, against a profit of Dh3.48 billion a year earlier. (Staff Report)