Abu Dhabi – Mubasher: Aldar Properties’ ordinary general meeting (OGM) approved the distribution of AED 943.5 million in cash dividends, with a per-share dividend of AED 0.12 for 2017.

The approved dividends account for 12% of Aldar’s capital, the Abu Dhabi-listed developer said in a statement released on Wednesday.

Aldar Properties posted an 80% decline in net profits during the fourth quarter of 2017, registering AED 140 million versus AED 700 million in the year-ago period.

Earlier in March, Aldar Properties and Emaar Properties have created an AED 30 billion ($8.1 billion) joint venture (JV) aimed at developing mega projects in national and global scales.