Emaar Properties general assembly (GA) meeting has approved the distribution of interim dividends on a semi-annual or quarterly basis.

 

The meeting approved the amendment of Article 57 of the company’s Articles of Association in this regard, said a Wam news agency report.

 

The added clause reads: "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."

 

Emaar 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, it said.