Home Business Emaar developer to distribute Dh 1.07 billion payout to investors

Emaar developer to distribute Dh 1.07 billion payout to investors

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Emaar Properties stated on Wednesday that it intends to give a cash bonus of 15 percent or Dh1.07 billion for 2018, which was lesser than market prospects. Other companies such as Etisalat and Abu Dhabi National Insurance Company (Adnic) also proclaimed their dividend for 2018.

Emaar Properties distributed a dividend approximately equal to that last year. Other Emaar companies like Emaar Malls and Emaar Development also announced their dividends.

“The dividend announcements from Emaar Group of Companies are in line with our expectations. Market chatter is retail investors were hoping for higher and to that extent may stand disappointed a little,” Vrajesh Bhandari, senior portfolio manager at Al Mal Capital said,

“The parent company has a hefty announced CapEx [capital expenditure] plan worth Dh25 billion and also they will not want to reimburse anything higher that is not sustainable over the next few years,” Bhandari added.

Emaar Malls announced a cash dividend of 10 percent or Dh1.3 billion. Emaar Development also proclaimed a cash dividend of 26 percent or Dh1.04 billion. Emaar companies will hold its annual general meeting on April 23.

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