The group reported profit at Dh619.49m for the year ended December 31, 2021. Image Credit: Supplied

Dubai: Dubai Investments has announced the distribution of 12 per cent cash dividend to shareholders for the financial year ending December 31, 2021.

The group reported profit attributable to the shareholders of the company at Dh619.49 million for the year ended December 31, 2021 as compared to Dh347.55 million in the previous year. The 78 per cent surge in the net profit was a result of increased revenue on the back of an improved performance by the group’s business units.

A proposal for the distribution of dividend to shareholders was approved at the company’s annual general meeting on April 11, 2022.

Speaking at the AGM, Abdulrahman Ghanem Abdulrahman Al Mutaiwee, Chairman of Dubai Investments, confirmed that the group will continue to take a prudent approach in managing the diversified portfolio with the objective of divesting mature assets and maintaining liquidity. He also mentioned that the company will continue to assess opportunities to grow the group’s business, either through mergers and acquisitions or by expanding presence across the region.

Dubai Investments is a leading investment company listed on the Dubai Financial Market with over 15,944 shareholders, a paid-up capital of Dh4.25 billion and total assets of Dh22 billion.