DUBAI — Global property developer Emaar Properties will distribute a special cash dividend of AED9 billion ($2.45 billion) that was approved recently. The special cash dividend being distributed this month, takes the total dividend distributed in 2014 to AED17.12 billion ($4.66 billion). This marks a record in dividends distributed by a Public Joint Stock Company in the region highlighting the commitment of Emaar to create long-term value for its shareholders.
Mohamed Alabbar, Chairman of Emaar Properties, said: “This year has been extremely significant for Emaar as we demonstrated our focus on building value for our shareholders.” Earlier this year, Emaar had distributed dividends of AED8 billion ($2.18 billion) including 15 percent cash dividend, equivalent to about AED975 million ($265.5 million), and 10 percent bonus shares. — SG
