Dubai – Mubasher: The general assembly of Emaar Development, a subsidiary of Emaar Properties, on Tuesday approved the distributing of AED 1.04 billion cash dividends for 2018.

The approved dividends account for 26% of the company’s capital, according to a company statement.

Emaar Development’s capital amount to AED 4 billion divided into 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).