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Sunday, 12 October 2014

MIDEAST STOCKS-Dubai stock index tumbles on weak global lead - Yahoo Maktoob News

MIDEAST STOCKS-Dubai stock index tumbles on weak global lead - Yahoo Maktoob News:



"Dubai's main stock index fell sharply in the opening minutes on Sunday in response to a weak global trend as most shares declined.



The benchmark dropped 3.1 percent to 4,787 points as heavyweight Emaar Properties tumbled 4.8 percent. The index dropped below chart support on the September low of 4,808 points; any clean break, in the form of a daily close, would trigger a minor double top formed by the September peaks and pointing down to about 4,455 points.



Abu Dhabi's index, which is generally less volatile than Dubai's, fell 1.0 percent."



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Emaar’s Board of Directors approves total cash dividend of Dh9 bn | GulfNews.com

Emaar’s Board of Directors approves total cash dividend of Dh9 bn | GulfNews.com:



"The Board of Directors of Emaar Properties PJSC has approved a Special Cash Dividend of Dh9 billion to be distributed to the company’s shareholders taking the total value of dividends distributed this year to over Dh17.12 billion. The total value of the dividends is about 250 per cent of the par value of Emaar’s shares.



The newly-announced cash dividend follows strong investor response to the initial public offering of Emaar Malls Group, which recorded total orders of over Dh172 billion. Emaar said it will conduct an Ordinary General Meeting to seek the approval of its shareholders in distributing the special dividend.



One of the most actively traded shares on DFM, Emaar’s stock value has increased by about 108 per cent in the past 52 weeks, with year-to-date increase in value by over 62 per cent. As of October 11, 2014, Emaar has a market capitalisation of over Dh81.98 billion."



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