Dubai’s Emaar approves $1.1 bln in special dividend

15/01/2018 Argaam

 

Dubai-listed Emaar Properties shareholders on Sunday approved the distribution of $1.09 billion (AED 4 billion) in special dividend from the proceeds of its recent Emaar Development IPO that raised $1.3 billion (AED 4.77 bln).

 

The developer will pay in January a dividend of AED 3 billion, representing 42 fils per share, followed by additional AED 1 billion after shareholders’ approval in April, it said in a statement to Dubai Financial Market.

 

Emaar Properties shares rallied on Monday, with the stock rising 1.4 percent to AED 7.4 soon after trading started.

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