Dubai – Mubasher: The board members of Emaar Development approved cash dividends valued at AED 2.08 billion for 2023, according to a bourse filing.

The company will disburse a dividend of 52 fils per share, which is still subject to the approval of the annual general meeting. The cash dividends represent 52% of Emaar Development’s paid-up capital

In the January-December 2023 period, the DFM-listed firm recorded 22% higher property sales at AED 37.40 billion ($10.20 billion), compared to AED 30.70 billion ($8.40 billion) in 2022.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) hiked by 89% year-on-year (YoY) to AED 8 billion ($2.20 billion) in 2023.

Furthermore, the net profit jumped by 74% YoY to AED 6.60 billion ($1.80 billion) as of 31 December 2023.