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Emaar Development’s OGM considers withholding dividend distribution

Emaar Development’s OGM considers withholding dividend distribution
The shareholders will consider not to distribute cash dividends
Emaar Development
EMAARDEV
-1.56% 8.20 -0.13

Dubai – Mubasher: The shareholders of Emaar Development, a subsidiary of Emaar Properties, will consider not to distribute cash dividends.

Withholding cash dividend distribution, proposed by the company’s board, will be discussed during the company’s third annual general meeting, set to be held on 8 April 2021, according to a bourse filing on Wednesday.

It is noteworthy to mention that in 2020, the company’s net profits decreased to AED 1.657 billion from AED 2.7 billion in 2019.