Emaar Properties said on Sunday it plans to hold the annual general meeting (AGM) on April 17.
The AGM will discuss the proposal of the board to distribute cash dividends of Dh1.07 billion, representing 15 per cent of the share capital being 15 fils per share, for the financial year ending December 2016, the company said in a statement.
“We are now focusing on an expanded development pipeline in Dubai and other international markets and a commitment to provide the best-in-class service to our customers. This is led by our digital transformation organisation-wide that will increase efficiency and productivity,” Mohamed Alabbar, Chairman of Emaar Properties said in a statement.
In 2016, Emaar recorded a net profit of Dh5.233 billion and full-year revenue of Dh15.540 billion.
Emaar Properties unit, Emaar Malls plans to hold their AGM on April 18.
The AGM will discuss the proposal of the board to distribute cash dividends to shareholders amounting to Dh1.3 billion, representing 10 per cent of the share capital being 10 fils per share for 2016. Further, seven directors of the Board will also be elected by the shareholders by secret ballot, the statement added.