What you need to know as UAE markets open on April 19

Here are some things you need to know as markets open today in the United Arab Emirates.

1) Emirates NBD reported a net profit of AED 1.87 billion for first quarter of 2017, up 4 percent year-on-year (YoY).

2) Emirates Islamic Bank said its net profit for Q1 2017 was AED 221 million, compared to AED 45 million in the same period last year.

3) DXB Entertainments in a statement to DFM said it is currently not exploring dual listing of its shares in any market. Separately, the amusement parks developer announced that its shareholders have approved an ‘employee share-based incentive plan,’ which will be rolled out through issuance of new shares.

4) Arabtec Holding shareholders have approved its capital restructuring program, which includes increasing share capital by AED 1.5 billion through issue of new shares (at an offer price of AED 1 per new share). The investors also approved a capital reduction through cancellation of up to 4.6 billion shares to help the contractor erase accumulated losses.

5) Abu Dhabi-listed National Bank of Fujairah reported a net profit of AED 126.1 million for first quarter of 2017, down 16.2 percent YoY.

6) Dubai-based ports operator DP World will invest $1.2 billion this year on its facilities in the UAE, Canada, Africa and South America, as part of its expansion plans.

7) Emaar Malls shareholders have approved 10 percent cash dividend (AED 0.1 per share) for financial year 2016.

8) Dubai-listed Union Properties will hold its general assembly today. The agenda includes approval for distribution of 8 percent bonus shares for 2016.

9) Today is the last trading day to be entitled for Dubai-listed Al Ramz Corporation Investment and Development’s cash dividend.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com