Emaar’s board to approve dividend on November 24

Dubai: Emaar Properties said on Sunday it has called a board meeting on Monday to approve a special cash dividend of Dh9 billion ($2.45 billion) to its shareholders.

The special cash dividend follows the successful IPO and listing of the Emaar Malls Group. Gaining overwhelming investor response, the IPO of Emaar Malls Group had recorded total orders of over Dh172 billion.

With the approval of the special cash dividend, the total value of dividends to be distributed to Emaar’s shareholders this year will be over Dh17.12 billion.