Emaar to hold 16th Annual General Meeting today
Developer had a total annual revenue of $2.812bn in 2013
The 16th Annual General Meeting (AGM) of Emaar Properties PJSC will be held today, Wednesday, April 23, 2014, at 7pm at Armani/Pavilion, Armani Hotel Dubai in Burj Khalifa.
According to a spokesperson, the AGM will discuss the proposal of Emaar’s board of directors regarding distribution of dividends to the shareholders amounting to 15% of the share capital being AED15 fils per share as cash dividend, and 10% bonus shares of the share capital of the company for the year 2013.
The meeting will also receive and approve the report of the board of directors on the company's activities and financial position, and the auditors' report for the year ending 31 December, 2013. And the AGM will appoint the auditors for 2014.
If the meeting falls short of quorum, the next AGM will be held at 7pm on Wednesday, 30 April, 2014, at the same venue.
Emaar had recorded full-year 2013 net profit of $699mn (AED 2.568bn) and annual revenue of $2.812bn (AED 10.328bn). The company's strong performance was underlined by recurring revenues from the its shopping malls, retail, hospitality, and leisure business units, which together contributed $1.307bn (AED 4.8bn) to last year’s revenue, 46% of the total.