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NMDC raises dividends to 25 fils/shr for 2018

NMDC raises dividends to 25 fils/shr for 2018
The total value of dividends amounted to AED 62.5 million
NMDC
NMDC
-0.07% 26.70 -0.02

Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) on Monday announced that the company’s shareholders had approved raising the proposed cash dividends to 25 fils a share, or 25% of the share’s nominal value, for 2018 during an ordinary general meeting (OGM).

The total value of dividends amounted to AED 62.5 million, according to a statement to the Abu Dhabi Securities Exchange (ADX).

NMDC’s board of directors had previously proposed distributing 22 fils per share, or 22% of the share’s nominal value, for 2018.

The ADX-listed firm’s capital reaches AED 250 million, distributed over 250 million shares, at a nominal value of AED 1 per share.

For the full-year 2018, NMDC’s profits rose 21.7% to AED 123.088 million, compared with AED 101.132 million in the prior year.

Meanwhile, revenues registered AED 1.53 billion in 2018, rising 8% from AED 1.41 billion in 2017.