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Thu 13 Jan 2005 04:00 AM

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Emaar proposes dividends for year 2004

Bonus shares also included in divi payout.

The board of Emaar Properties has recommended to the company’s general meeting to distribute dividends for the year ended 31 December, 2004.

The recommendation was proposed during the board meeting held on 12 January, and includes distributing cash dividends of 17.5% in addition to 2.5% as bonus shares for the shareholders (i.e. one free share for every 40 shares)

The annual general meeting is due to be held during March 2005.

The board also discussed local and international development projects and the company’s future expansion plans.

The final results of the company’s accounts for the year ended 31 December 2004 will be announced later this month.

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