Dubai’s Emaar Malls says 2016 dividend unchanged on year

DUBAI: Dubai’s Emaar Malls said on Monday its board had recommended paying a cash dividend of 0.1 dirham ($0.03) per share for 2016.

The dividend would be the same as the payout for 2015.

Emaar Malls, part of Emaar Properties, reported a 3.9 per cent rise in fourth-quarter net profit to Dh452 million.

Last year’s revenues grew by 8 per cent year-on-year to Dh3.227 billion for the Dubai-based developer, off the back of a solid performance for the company’s mall business.