Julphar board approves 8% cash dividend

Ras Al Khaimah: The board of directors of the Gulf Pharmaceutical Industries (Julphar) approved yesterday a recommendation to the company's regular general assembly to be held on April 8 to distribute an 8 per cent cash dividend and 4 per cent bonus shares to shareholders.

Shaikh Faisal Bin Saqr Al Qasimi, the company's board chairman, said Julphar was moving steadily towards a strategic sales target of Dh1 billion by the end of the year. He said that Julphar's 2009 sales of Dh762 million, an increase of 21.9 per cent compared to 2008, clearly showed that it had been moving in the right direction with no adverse impact by the international financial crisis on it.