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RAK Properties shareholders approve 4 fils/shr dividends

RAK Properties shareholders approve 4 fils/shr dividends
The OGM of RAK Properties has nodded to distribute 4% of dividends
RAK Properties
RAKPROP
-4.94% 0.33 -0.02

Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of RAK Properties has amended the cash dividends distribution for 2019, the company disclosed to Abu Dhabi Securities Exchange (ADX) on Sunday.

Instead of distributing 3% cash dividends as proposed by the company's board, shareholders have decided on cash dividends stands at 4 fils per share, amounting to AED 80 million, equivalent to 4% of the company's capital.

It is noteworthy to highlight that in 2019, RAK Properties reported a 33% profit decline to AED 101 million, compared to AED 151 million in 2018.