Abu Dhabi – Mubasher: RAK Properties’ ordinary general meeting (OGM) increased the proposed dividends to AED 120 million, which account for 6% of the company’s capital, according to a company statement released on Sunday.

The developer’s board recommended the distribution of 5% of its capital in cash dividends.

The Abu Dhabi-listed developer posted an 9.7% increase in net profit during 2017, registering AED 191.82 million, compared to versus AED 174.81 million in the year-ago period.