Dubai Investments distributes 12% cash dividend

DUBAI,Dubai Investments has announced the decision to distribute 12 percent cash dividend to its shareholders for the financial year ending 31st December 2017.

A proposal to this effect was approved by the shareholders at the company’s 22nd Annual General Meeting on 18th April 2018. The company’s shareholders also approved all other resolutions presented by Dubai Investments Board of Directors.

The company presented its 2017 financial results, which revealed a net profit of AED1,001.6 million for 2017. The company’s profitability was in line with the previous year if the one-off gain from divestments amounting to AED186 million is excluded. Total assets increased by AED890 million to reach AED17 billion as of 31st December 2017.

Property business accounted for nearly 68 percent of total assets and contributed 57 percent to company’s revenue, while manufacturing and contracting accounted for 16 percent of total assets and contributed 42 percent of its revenue. Financial investments represented approximately 16 percent of the Company’s total assets.

Source: Emirates News Agency