Aldar Properties, a top real estate developer in Abu Dhabi, is all set to give cash dividends cost AED1.14 billion ($310 million) to the shareholders for the fiscal year (FY) 2020.
This is similar to 14.5 percent of the company’s capital or 14.5 fils per share for the financial year ended on December 31, 2020, provided Aldar in its document to teh Abu Dhabi Exchange.
The report was made at the ordinary general meeting (OGM) of Aldar Properties where the shareholders have set the last entitlement date at March 31 and the ex-dividend date at April 1.
Aldar had reported a strong financial and operating performance in 2020 driven by record annual development revenue and increased income from management of government infrastructure contracts despite the Covid crisis.
Its profit increases to 17 percent to AED8.39 billion ($2.28 billion), driven by record development business performance, whole its total gain increased 8 percent to AED2.98 billion. However, Aldar’s total gains for 2020 fell from AED1.984 billion in 2019 to AED1.932 billion.
During the meeting, the shareholders also supported the appointment of Khalifa Abdulla Khamis Al Romaithi as the new board member replacing Mansour Mohamed Al Mulla who resigned last month.