Tamweel proposes 21.8pc dividend
Tamweel's board has proposed 21.8 per cent cash dividend for shareholders, the UAE's largest provider of real estate finance said.
The proposed dividend is subject to ratification at the company's upcoming annual general meeting (AGM), which is proposed to be held on the March 31, 2008, it added.
The board of directors met on Wednesday to approve the audited financial results for 2007.
The year 2007 was a significant one for Tamweel that saw the company receive high corporate ratings from Moody's (A3) and Fitch (A), signifying the high confidence and stable outlook of the company.
The AGM follows Tamweel's recent record 2007 profits of Dh451 million, an increase of 195 per cent compared to the same period in 2006.
Source:
Trade Arabia News |
