Dubai Investments Shareholders to get an 8 per cent dividend payout for 2020, which will total Dh340.16 million.
Dubai , Dubai
13 March 2021, 12:00 AM
31 March 2021, 12:00 AM
Dubai Investments has confirmed the news circulating about the company's intention to distribute cash dividends to the shareholders for 2020. Shareholders of Dubai Investments will get an 8 per cent dividend payout, which will total Dh340.16 million.
This comes after the developer of industrial parks and mixed-use developments saw a considerable drop in net profit to Dh273.13 million from Dh533.45 million in 2019.
The lower numbers were “mostly” due to losses incurred on fair valuation of its investment properties. That compares with a valuation gain the year before. Also missing from the 2020 numbers was a one-off gain from the acquisition of a controlling stake in a subsidiary.
Dubai Investments saw its total income for the year at Dh2.67 billion, a slight decline from the Dh2.88 billion a year before. The decline in rental income (Dh857 million) was compensated by higher returns from sale of properties – Dh293.07 million against Dh40.14 million in 2019.