Emaar declares 15% cash dividend

Emaar Properties said it declared a 15 per cent cash dividend after approval from the annual general meeting or equivalent to Dh1.074 billion, for distribution to the shareholders.

Mohammad Alabbar, Chairman of Emaar Properties, said Emaar has created sustained value for shareholders through its premium real estate, malls and hospitality.

“Our new growth approach is led by the digital transformation of our operations, which will transform our company and ensure that we are futureready,” Alabbar said.

Emaar also said that Marwan Abedin has resigned from the board. The AGM also approved the report of the Board of Directors on the activities and financial position of Emaar, the auditor’s report, and balance sheet for 2016. Ernst and Young was appointed as the auditor for 2017.

In 2016, Emaar recorded a net profit of Dh5.233 billion, and revenues of Dh15.540 billion. The performance of Emaar’s real estate sales in Dubai recorded notable growth during 2016 at Dh14.4 billion.

Emaar also strengthened its landbank, notably in Dubai, without capital investment.