Emaar Properties declares $272.25mln cash dividend

Dubai - The 22nd annual general meeting (AGM) of Emaar Properties has approved the distribution of Dh1 billion ($272.25 million) as dividend to the shareholders, representing 14 per cent of the share capital being 14 fils per share.

This is part of the exceptional cash dividend of Dh4 billion ($1.089 billion) from the proceeds of the public offering of shares of Emaar Development. The distribution of Dh3 billion ($816.8 million) in dividend was approved at Emaar's 21st general meeting in January this year.

The AGM also elected Emaar's new board comprising 9 members compared to 11 earlier. The new board members are: Mohamed Alabbar, Jassim Mohd Abdul Rahim Al Ali, Ahmad Thani Rashed Al Matrooshi, Abdullah Saeed bin Majed Belyoahah, Jamal Hamed Thani Buti Al Marri, Arif Obaid Saeed Mohammad Al Dehail Al Mehairi, Abdulrahman Hareb Rashed Hareb Al Hareb, Ahmed Jamal H Jawa and Jamal Majed Khalfan bin Theniyah. - business@khaleejtimes.com