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Dubai's Damac approves 15% cash dividend

The AGM approved the report by the board on the activities and financial position of the company as well as the auditor’s report

During 2015, the developer recorded revenues of $2.3bn (AED8.5bn).
During 2015, the developer recorded revenues of $2.3bn (AED8.5bn).

The Annual General Meeting (AGM) of luxury developer Damac Properties approved a cash dividend of 15% of the share capital for distribution to the shareholders.

It will be equivalent to $0.04 (AED0.15) per share to be distributed for 2015.

The meeting approved the report by the board on the activities and financial position of the company as well as the auditor’s report for the financial year ending 31 December, 2015.

The company’s shareholders also approved board’s recommendation on its remuneration for 2015.

During 2015, the developer recorded revenues of $2.3bn (AED8.5bn), and a net profit of $1.2bn (AED4.5bn), an increase of 30% compared to 2014.

 

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