Emaar Development approves AED 1 bln cash dividend for shareholders

Emaar Development approved the distribution of AED 1.04 billion, representing 26 percent of the share capital, being 26 fils per share, as special cash dividend to the company’s shareholders.

The special dividend was approved just as the company marks a year of its successful listing on the Dubai Financial Market.

Emaar Development, the UAE-based business majority-owned by Emaar Properties, reported a net profit of AED 1.82 billion during the first six months (January to June) of 2018 and revenue of AED 6.99 billion, led by the on-schedule progress in construction and timely project delivery.

The company also reported total sales of AED 6.23 billion during H1 2018. Emaar now has a total sales backlog of over AED 38.50 billion, majority of which will be recognised as revenue over the next three to four years.