Dubai-based master-developer, Emaar Properties, has announced its plan to distribute dividends equivalent to 25% of its share capital to its shareholders for the fiscal year 2022, demonstrating its commitment to maximising shareholder value. This decision was made at the company’s annual general meeting (AGM) held on April 17, where the board of directors received approval from its shareholders for the distribution of dividends.
The AGM applauded the company’s strong performance in 2022, which saw a net profit of AED 6.8B ($1.9B), and discussed measures taken to ensure continued robust business performance throughout the year. By prioritising customer satisfaction and product development, Emaar was able to boost the value it brings to shareholders, resulting in a record high of AED 35.1B ($9.5B) in real estate sales for the company in 2022, reflecting the trust customers have in the Emaar brand.
“The Emaar Group sees 2023 as a promising year, and it is dedicated to improving its operations, increasing its return on investment, and satisfying its clientele. The company plans to boost its efficiency, productivity, and performance to increase its turnover,” said its Founder Mohamed Alabbar.
The Emirati developer, he stated, remains committed to delivering all ongoing projects by their respective deadlines.
“Investment in the company’s highly qualified workforce, digital systems, and supplementary resources will ensure the continuity of all operational efficiencies and help the business realise its long-term goals,” he added.
Furthermore, Emaar Properties announced a significant sales backlog of more than AED 53.2B ($14.5B), which will be recognised as revenue in the next few years. The auditor’s report for the year 2022 and the board’s report on the company’s activities and financial position were also approved at the meeting, according to TradeArabia.
