Emaar Properties will pay dividends to shareholders to the amount of USD 602 million

One of the most famous developers in the world, Emaar Properties, has announced the payment of dividends to its shareholders. Equity holders of the Dubai company will receive payments to the amount of AED 2.21B (USD 602M).

The Board of Directors of Emaar Properties made a decision on the distribution of money. According to the Dubai Financial Market (DFM), Dubai's leading property developer expects a return on capital of 25%, at a price of 25 fils per share.

The company's Board of Directors submitted the dividend proposal to the General Assembly, which will meet on April 17, subject to approval of the agenda by the Securities and Commodities Administration (SCA).

At the meeting of the General Assembly, it is planned that the company will submit the annual report for 2022 on the consolidated statement of their financial position for consideration and approval, which was approved on December 31, 2022.

The developer announced in February that annual profits and property sales hit record highs as sales surged in 2022.

In turn, real estate developer Emaar Properties recorded a profit of AED 24.9B (USD 6.8B) in 2022, supporting a business that generates regular income, as a result of the recovery of the global tourism sector.