Monday, Mar 04, 2013
DUBAI (Zawya Dow Jones)--Dubai-based Aramex (ARMX.DFM) on Monday said its board of directors has proposed the distribution of 10% of its paid-up capital as cash dividend for 2012, after the logistics provider posted a 15% rise in full-year profit.
Its board met Sunday to discuss various matters including its dividend, Aramex said in a statement posted on the Dubai bourse website. The company's shareholders are scheduled to meet on April 4 to vote on the proposed payout.
Aramex last month said continued instability in the Middle East and North Africa region and an uncertain global economic outlook makes it cautious on this year, after reporting a 2012 net profit of 244.1 million U.A.E. dirhams ($66.5 million).
The company's shares closed flat at AED2.16 Sunday.
Write to Nikhil Lohade at nikhil.lohade@dowjones.com
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(END) Dow Jones Newswires
04-03-13 0529GMT
