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RAK Properties approves AED 100m dividends

RAK Properties approves AED 100m dividends
Photo Credit: Arabianeye-Reuters
RAK Properties
RAKPROP
-0.76% 1.31 -0.01

Abu Dhabi – Mubasher: Shareholders of RAK Properties approved the board’s proposal to distribute a cash dividend of 5% (5 fils per share), amounting to AED 100 million, according to a filing to the Abu Dhabi Securities Exchange (ADX).

The real estate company determined the record date at 25 March, with the last day to participate in dividends set at 29 March.

The payment date will be within 30 days of the ordinary general meeting, the statement said.

The Abu Dhabi-listed firm reported a profit rise of 3.4% to AED 155.74 million in the fiscal year 2014, compared to AED 150.6 million in FY13.

The company’s capital amounts to AED 2 million, distributed on 2 million shares at AED 1 par value.