Dubai Investments AGM approves proposal for distribution of 25 per cent dividend
Dubai Investments PJSC successfully held its 11th Annual General Meeting wherein the shareholders approved the annual financial statements of 2006 as well as the board of director's proposal for distribution of a total dividend of 25 per cent, comprising cash dividend 15 per cent and stock dividend 10 per cent, of the paid up capital of AED 1.973 billion, compared to a stock dividend of 30 per cent in the previous year. The 15 per cent cash dividend will amount to AED 296 million, while the total dividend will be AED 493.35 million which represents a 92 per cent increase compared to previous year.
The AGM also approved distributing bonus shares at 10 per cent of the capital,
equivalent to AED 197.3 million, raising the capital to AED 2.17 billion.
In 2006, Dubai Investments achieved phenomenal financial growth with total income increasing by 31 per cent as compared to 2005. The company posted profit increases of 45 per cent over the previous year. Further, in 2006, the company posted a total income of AED 2 billion, with a net profit of AED 989 million.
Anis Abdullah Al Jallaf, Chairman, Dubai Investments, said, "We will continue with our strategy of diversifying investments within a broad base of activities and we are also looking at strategically expanding our operations in the region. Dubai Investments has been growing from strength to strength each year and I thank all our employees, shareholders and clients for their contribution and constant support that have ensured such a high rate of profitability for the company."