Salik to distribute Dh550 million cash dividend for the second half of 2023

  • Date: 02-Apr-2024
  • Source: Khaleej Times
  • Sector:Financial Markets
  • Country:UAE
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Salik to distribute Dh550 million cash dividend for the second half of 2023

Published: Tue 2 Apr 2024, 6:02 PM

Salik Company PJSC, Dubai’s exclusive toll gate operator, on Tuesday announced the distribution of cash dividends amounting to Dh550,035,000 (equivalent to 7.3338 fils per share), representing 100 per cent of the net profit of the second half of the fiscal year ended on December 31, 2023.

The decision was taken at the company’s Annual General Meeting (AGM), chaired by Mattar Al Tayer, Chairman of Salik’s Board of Directors. Shareholders approved the Board of Directors’ report on the Company’s activity and its financial statements for the fiscal year ended on December 31 2023, which included the value of cash dividends distributable for the fiscal year 2023, which amounted to Dh1,097,962,219 (equivalent to 14.6395 fils per share), representing approximately 100 per cent of 2023 distributable net profit.

Salik’s AGM concluded with the approval of various special resolutions. Among these, the definition of ‘government shareholder’ was amended to encompass any entity or individual designated or nominated by the Government of Dubai. Additionally, amendments were made to the articles of association to add new business activities into Salik’s operations. The AGM also approved Salik’s corporate social responsibilities policy, along with the allocation of a percentage of the company’s forecasted revenues