Dubai, UAE: The 23rd Annual General Meeting (AGM) of Emaar Properties PJSC (DFM: EMAAR) will be held on Monday, April 22, 2019, 4PM at the Diamond Ballroom of Address Dubai Mall hotel in Downtown Dubai. If the meeting falls short of quorum, the AGM will be held at the same time and venue on Monday, April 29, 2019.
The AGM will propose the distribution of AED 1.07 billion (US$ 290 million) dividend, representing 15 per cent of the share capital being 15 fils per share, to shareholders. The meeting will also receive and approve the report of the Board of Directors on the activities and financial position of the company for the year ending December 31, 2018; the Auditor’s Report; and the company’s balance sheet. The new auditors for 2019 will also be appointed.
Emaar reported a net profit of AED 7.216 billion (US$ 1.965 billion) in 2018, a 30 per cent increase over 2017, prior to considering the effect of the IPO of Emaar Development and forex movement. Revenue in 2018 was AED 25.694 billion (US$ 6.995 billion), a growth of 37 per cent over the previous year.
The No 1 listed developer by market capitalisation in the MENA region under MSCI EM Index, Emaar has a landbank of over 1.6 billion square feet in key markets. Today, Emaar is the world’s largest property company outside China, with a brand value of over US$ 2.7 billion. Emaar is also among the top 10 brands in the Middle East, with its brand value increasing by 39 per cent over 2017.
-Ends-
For more information:
Kelly Home | Nivine William
ASDA’A BCW
+9714 4507 600
kelly.home@bcw-global.com
nivine.william@bcw-global.com
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
