Dubai: Emirates REIT, the first Sharia-compliant regulated Real Estate Investment Trust, said on Tuesday it proposes to pay a final dividend $11.98 million (Dh44 million) or $0.04 per ordinary share for 2014 to those shareholders on the register on the June 16.
The proposed final dividend will be subject to shareholder approval at the REIT’s Annual General Meeting June 21, the firm said in a statement.
Upon receiving the approval, the total dividend distribution for the year 2014 will be $23.96 million or $0.08 per ordinary share, which represents an increase of 60 per cent or $0.03 per ordinary share over 2013.
