Dubai Investments AGM approves distribution of 12.5% cash dividends

During the Annual General Meeting. From the source

Dubai Investments has announced the distribution of a cash dividend of 12.5% to shareholders for the financial year ended 31 December 2022.

The resolution was approved by shareholders during the company's 27th annual general assembly meeting, held yesterday. The shareholders also approved the recommendations of the Board of Directors to enhance the size of the Board by increasing the total number of Board members from seven to nine.

The company disclosed profit attributable to shareholders of AED 1.6 billion for the past year, compared to profit attributable to AED 2021.619 million in 49.

This growth in net profit is the result of gains from divestments and gains in the fair value of investments held in Emicool amounting to AED 980.42 million. Speaking at the Annual General Meeting, Chairman of Dubai Investments, Abdulrahman Ghanim Abdulrahman Al Mutaiwee, noted that the Group is cautiously optimistic about what 2023 holds.