Al Ramz Corporation AGM convened and approved 6% dividend distribution

  
Al Ramz Corporation AGM convened and approved 6% dividend distribution

Dubai - The General Assembly of Al Ramz Corporation for Investment and Development PJSC was  held on March 19, 2018 with an attendance rate of 94% of the shareholders.

Mr. Dhafer Al Ahbabi, Chairman of the Board of Directors, welcomed the shareholders and thanked them for their continuous support of the company and their valuable trust in the Board of Directors. The Chairman also summarized the company's performance during the year 2017 in which a profit of 60.8 million dirhams was achieved compared to 58.7 million dirhams in 2016 despite of the challenging market conditions during the past year. The Chairman also pointed out the growth of the company's assets by 26% over 2016.

The Assembly approved distributing dividends of 6% of the capital, which represents more than 50% of the net profits achieved for the year and a 20% increase on the dividends distributed in 2016. The Board also noted that the Executive Management has invested great deal to upgrade its governance standards considering its continuous growth to protect the company’s interest and the shareholders. The assembly then proceeded to discuss and unanimously approve the rest of the items on the meeting agenda.

-Ends-

About Al-Ramz Corporation

Al-Ramz Corporation Investment and Development PJSC a listed company in Dubai Financial Market with a capital of AED 549,915,858. Al Ramz offers a variety of products and services through the company itself or any of its subsidiaries including Asset management, market making, IPO management, financial advisory, research and equity trading services in local and regional markets. Al Ramz Corporation is licensed by the Securities and Commodities authority; license number 203676.

© Press Release 2018