In a serious milestone, the Board of Administrators of Deyaar Growth PJSC (“Deyaar”), one of many main actual property builders and repair suppliers in Dubai, the United Arab Emirates (UAE), has introduced the approval of dividend distribution for the primary time within the firm’s historical past.
This landmark resolution marks a big chapter for Deyaar and its shareholders whereas underscoring its dedication to delivering long-term worth to the corporate’s shareholders.
Commenting on the historic resolution, Mr. Abdullah Al Hamli – Chairman of the Deyaar Board of Administrators, stated: ” We’re delighted to announce our resolution to distribute dividends to our valued shareholders. The Board advisable distributing a 4% of the share capital as dividend (AED 175 million, equal to 4 fils per share) to shareholders, and current the advice to the Basic Meeting for approval. This marks a big achievement for Deyaar and displays our regular progress trajectory. Lately, Deyaar has undergone a exceptional transformation, resetting in 2022 and reaping the rewards in 2023. With a robust enterprise mannequin and strategic initiatives in place, Deyaar is now well-positioned to embark on a brand new chapter of progress. Wanting forward, I’m assured that this momentous milestone paves the way in which for continued success. I prolong my heartfelt gratitude to our shareholders for his or her belief and assist, and I congratulate all stakeholders and the complete Deyaar group for his or her dedication and resilience, exemplifying the facility of strategic imaginative and prescient.”
The corporate’s Annual Basic Meeting Assembly is proposed to happen on fifth April subsequent month.
Listed on the Dubai Monetary Market and majority-owned by Dubai Islamic Financial institution (DIB), Deyaar is one in every of Dubai’s main builders, with actual property ventures spanning key progress corridors and prime places inside the emirate. Over the previous twenty years, Deyaar has delivered an intensive portfolio of business and residential properties, all providing the best ranges of service and high quality.
