Arkan Building approves cash dividend of Dh44m

Dubai: Arkan Building Materials said on Monday it has approved a cash dividend of 2.5 per cent at its Annual General Meeting held on Wednesday.

The company had successfully restructured its debt, reducing the interest rate over a longer period, matching its cash generation capabilities and reducing its debt burden, it said in a statement.

In 2014, Arkan achieved a net profit of Dh80 million compared to Dh43 million in 2013, representing an increase of 87 per cent. Revenues reached Dh752 million in 2014 versus Dh387 million in 2013.