Abu Dhabi – Mubasher: Reem Investments' ordinary general meeting (OGM) has approved to pay out 14% cash dividends for fiscal year 2019.

The distribution of cash dividends stands at 14 fils per share, aggregating at an amount of more than AED 108.85 million, according to the company's recent press release.

During the meeting, the shareholders set 7 April as the last entitlement date and 9 April as shareholders' registry closing date.

Meanwhile, the OGM has agreed on buying back the company's shares with not exceeding 10% of the paid-up capital.

It is noteworthy to mention that in 2019, the company’s annual net profits plunged by 43% to AED 239.1 million from AED 416.8 million in 2018.