Dubai: Emaar Properties said on Monday its plan to distribute Dh4 billion as special dividend has been approved at an ordinary general meeting which was held on January 14.

The company will use the IPO proceeds from sale of Emaar Development. The company will pay Dh3 billion in January to their shareholders, representing 42 per cent of the capital and 42 fils per share, while the remaining Dh1 billion will paid in April.

Emaar Properties shares closed 1.37 per cent lower at Dh7.20.