Dubai – Mubasher: DAMAC Properties has recommended a 10% dividend in the form of bonus shares to shareholders at AED 0.10 per share, totaling 500 million shares.

The Board has proposed that the Company’s ordinary general meeting (OGM) be held in late March, the Company said in its statement to the Dubai Financial Market (DFM).

DAMAC announced its financials today, Monday, for the fiscal year 2014 in a bourse filing to the Dubai Financial Market (DFM). The developer reported a massive growth by 189.6% in its net profits for the year to AED 3.48 billion ($947 million) against AED 1.2 billion ($327 million) in FY13.

Its capital amounts to AED 5 billion divided on 5 billion shares at par value AED 1 per share.