Saturday 24 July 2021 - 12:19:28 pm

Dubai Investments announces 10% cash dividend to shareholders


DUBAI, 4th June, 2020 (WAM) -- Dubai Investments, a public joint stock company listed on the Dubai Financial Market, DFM, has announced the distribution of a 10 percent cash dividend to shareholders for the financial year ending 31st December 2019.

"A proposal to this effect was approved by the shareholders at the company’s virtually held 24th Annual General Meeting, AGM, on 3rd June 2020," the company said in a statement on Thursday.

Abdulrahman Ghanem Al Mutaiwee was elected as the company’s new Chairman and Khalid Bin Kalban as its new Vice-Chairman. The other board members comprise of Ali Fardan Ali Al Fardan, Mohamed Saif Darwish Al Ketbi, Khaled Mohammad Ali Al Kamda and two new members, Abudulrahman Mohamed Rashed Alshared and Hussain Nasser Ahmed Lootah.

The company’s shareholders also approved all other resolutions presented by Dubai Investments Board of Directors. The Group has reported profit attributable to the shareholders of the company of AED657.4 million for the year ended 31st December 2019 as compared to AED651.4 million in the previous year.

Total assets of the Group have increased by AED1.41 billion and stands at AED20.96 billion as of 31st December 2019 (2018: AED19.55 billion). The increase in total assets, the company added, is mainly attributable to acquisition of additional 66 percent interest in Globalpharma LLC and cost incurred on development of real estate projects during the year.

During the AGM, the company also said that it is studying and evaluating businesses to review and enhance business continuity plans as new strategies are solidified.

WAM/Rasha Abubaker/Nour Salman