DUBAI / WAM
Dubai Investments has announced the decision to distribute 12 percent cash dividend to its shareholders for the financial year ending on December 31, 2017. A proposal to this effect was approved by the shareholders at the company’s 22nd Annual General Meeting on Wednesday.
The company presented its 2017 financial results, which revealed a net profit of AED1,001.6 million for 2017. The company’s profitability was in line with the previous year if the one-off gain from divestments amounting to AED186 million is excluded. Total assets increased by AED890 million to reach AED17 billion as of December 31, 2017.
Property business accounted for nearly 68 percent of total assets and contributed 57 percent to company’s revenue, while manufacturing and contracting accounted for 16 percent of total assets and contributed 42 percent of its revenue.