Dubai Investments announces 12.5% cash dividends for 2023

Dubai Investments announces 12.5% cash dividends for 2023

Dubai – Mubasher: Dubai Investments has disbursed 12.50% cash dividends to the shareholders for the financial year that ended on 31 December 2023, according to a press release.

The shareholders greenlighted the cash dividends during the 28th annual general meeting (AGM) in line with the company’s plans to boost its adaptability in navigating the dynamic economic landscape.

On the financial level, the DFM-listed group logged net profit attributable to the shareholders valued at AED 1.13 billion in 2023, compared to AED 1.60 billion in 2022.

Dubai Investments also recorded higher profits by AED 502.79 million if adjusted for the one-off gain on disposal of controlling interest and fair value gain on a retained investment in Emirates District Cooling LLC amounting to AED 980.42 million in the previous year.

The higher profits were attributed to the sale of real estate properties, an increase in rental income, and a surge in fair valuation gain on investment properties.

Furthermore, the revenues witnessed an annual jump to AED 4.25 billion in 2023 from AED 4.17 billion.

Dubai Investments announces 12.5% cash dividends for 2023