Dubai – Mubasher: Emaar Development’s board on Wednesday recommended the distribution of 26% of the company’s capital in cash dividends for 2018.

The proposed dividends stood at around AED 1.04 billion, according to a bourse statement.

The capital of Emaar Development, a subsidiary of Emaar Properties, reached AED 4 billion distributed on 4 billion shares.

In February, Emaar Development reported a 42% year-on-year surge in profits for the full-year 2018, recording AED 3.90 billion ($1.06 billion).