Deyaar to distribute its first-ever dividend

In a major milestone for Deyaar Development, the real estate developer’s board of directors approved its plan to distribute a dividend for the first time in the company’s history.

“We are delighted to announce our decision to distribute dividends to our valued shareholders,” said Abdullah Al Hamli, Chairman of the Deyaar Board of Directors. “The board recommended distributing a 4 per cent of the share capital as dividend (Dh175 million, equivalent to 4fils per share) to shareholders, and present the recommendation to the General Assembly for approval.”

“This marks a significant achievement for Deyaar and reflects our steady growth trajectory. In recent years, Deyaar has undergone a remarkable transformation, resetting in 2022 and reaping the rewards in 2023. With a strong business model and strategic initiatives in place, Deyaar is now well-positioned to embark on a new chapter of growth. Looking ahead, I am confident that this momentous milestone paves the way for continued success.”

The company’s Annual General Assembly Meeting is proposed to take place on April 5 next month.