DUBAI, Feb 14 (Reuters
) - Dubai's DAMAC Properties
reported a 1.3 percent rise in its fourth-quarter net profit on Tuesday, according to Reuters
The developer reported a net profit of 854.6 million dirhams ($232.7 million) for the three months to Dec. 31, 2016, Reuters
calculated in the absence of a quarterly breakdown. This was up from 844 million dirhams reported for the year-ago period.
Full-year 2016 net profit was 3.69 billion dirhams, down from 4.51 billion dirhams in 2015, the company said in a statement.
The company said its shareholders had approved the distribution of a cash dividend of 0.25 dirhams per share for 2016. That compares with 0.15 dirhams per share for the previous year. ($1 = 3.6726 UAE dirham)
(Reporting By Tom Arnold; Editing by Subhranshu Sahu) ((Tom.Arnold@thomsonreuters.com; +97144536265; Reuters Messaging: firstname.lastname@example.org))