DUBAI 23 June 2020: Emaar Properties in its general assembly meeting on Sunday, approved the amendment of Article (57) of the company’s Articles of Association that may allow the distribution of interim dividends on a semi-annual or quarterly basis.
The added clause reads as follows: “Without prejudice to the above and subject to the approval of the general assembly, the company may distribute interim dividends on a semi-annual or quarterly basis.”
Emmar said in a statement published on Dubai Financial Market website that its GA had approved the report of the board of directors on the activities of the company and its financial position, the report of the auditors, and the consolidated financial statements of the company for the year ending 31st December 2019.
The GA also permitted members of the board of directors to carry on activities included in the objects of the company and authorised the board of directors to approve the voluntary contributions for the year 2020 provided that such contributions do not exceed (2 percent) of the average net profits of the company during the two previous financial years.
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