Emaar Properties approves $598mn cash dividends ...United Arab Emirates

Leading UAE developer Emaar Properties has announced that its Board has approved the distribution of cash dividends worth US $598mn to its shareholders for FY 2022. In a disclosure to the Dubai Financial Market (DFM), the company said the proposed profits represent 25% of the available capital, at 25 fils per share. For FY 2022, Emaar had reported solid growth in its profitability and marked improvement in the performance of recurring revenue businesses in 2022. Its net profit surged by 80% to hit US $1.9bn, while its ebitda for the period hit $2.7bn, up 18% over the previous year, as a result of sustained revenue, improved margins, and continued control over costs. It also showed continued

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