National Marine Dredging mulls 25% dividend distribution for 2019

The cash dividend distribution amounts $17.02mln


Abu Dhabi – The National Marine Dredging Company will consider the shareholders' request to distribute cash dividends equivalent to 25% of the company's capital for 2019.

The cash dividend distribution aggregates at a total amount of AED 62.5 million, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday.

The shareholders, owning 10% of the share capital, requested the company to cancel the agenda item regarding not distributing dividends for 2019 which obtained the approval of the Securities and Commodities Authority.

It is noteworthy to mention that in 2019, the company's net profits rose to AED 180.8 million, compared to AED 120.9 million in 2018.

Source: Mubasher

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