Emaar Properties to hold tenth AGM on March 19
• To discuss proposed cash dividend of 20% of nominal value of shares
• New Dividend Policy also to be appraised
Emaar Properties PJSC will hold its tenth Annual General Meeting (AGM) at 5pm on Wednesday, March 19, 2008, at Sheikh Rashid Hall, Dubai International Convention Centre.
The AGM will discuss the proposed cash dividend of 20 per cent of the nominal value of shares and the new Dividend Policy announced by the Board of Directors. Also on the agenda are the approvals of the Director’s Report, Auditor’s Report and financial statements, and appointment of auditors for the year 2008.
Upholding the value potential of Emaar, the company’s Board of Directors recently announced a new Dividend Policy at a minimum of 20 per cent of the nominal value of the shares, depending on relevant global and domestic market conditions and Emaar’s projected growth and capital commitments.
In 2007, Emaar recorded net profits of AED 6.575 billion (US$1.790 billion), 3 per cent higher than previous year net profit of AED 6.371 billion (US$1.735 billion). Emaar’s annual revenue for 2007 is AED 17.566 billion (US$4.782 billion), an increase of 25 per cent compared to AED 14 billion (US$3.813 billion) in 2006.
The company is on geographic expansion and business segmentation drive and is building new competencies in malls, education, hospitality and leisure, healthcare and financial services.
