Source: www.khaleejtimes.com
DUBAI — Emaar Properties, builder of the world’s largest tower Burj Khalifa, said on Monday that it is approving a 10 per cent cash dividend for 2010.
Emaar’s board had originally planned to withold a dividend for the past year, but at a shareholders’ meeting on Monday, Emaar Chairman Mohammed Alabbar agreed to a 10 per cent dividend.
The biggest developer in the UAE by market value posted a 62 per cent drop in fourth-quarter earnings, hit by a writedown of assets and impairments in its financial portfolio. Meanwhile, Emaar’s investments outside the UAE have risen in value to reach Dh22 billion, Chairman Mohamed Alabbar told a shareholders meeting in Dubai. He estimated the value of these investments at Dh8 billion previously, without giving a date.
