Dubai: Emaar Development approves Dh2.082 billion dividend for 2023

Emaar Development shareholders on Monday approved the board of directors’ proposal to distribute a dividend of Dh2.082 billion (US$ 567 million) for 2023, which equals to 52 per cent of the share capital (~Dh52 fils per share).

Emaar Development PJSC reported property sales of Dh37.4 billion last year, an increase of 22 per cent compared to 2022 resulted in healthy sales backlog of Dh57.1 billion, which will be recognised as revenue in the coming years. In 2023, the company reported revenue of Dh11.9 billion and net profit of Dh6.6 billion, which reflects a 74 per cent growth compared to 2022.

“Our consistent year-over-year growth and increasing profitability are directly attributed to the unwavering support of our shareholders, astute management, and highly skilled workforce. Furthermore, our dedication to providing exceptional shareholder value and our critical role in driving Dubai’s economic vitality highlight our esteemed brand’s foundation of trust and quality.”