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Sunday, 8 January 2017

Dubai's DAMAC Properties expects to maintain 25 pct dividend - CFO | Reuters

Dubai's DAMAC Properties expects to maintain 25 pct dividend - CFO | Reuters:
"Dubai's DAMAC Properties expects to maintain its 25 percent cash dividend policy for 2016 despite profit declines in the first three quarters, its group chief financial officer said on Sunday.

The developer's board set a minimum 25 percent cash dividend target in 2014 for the following two years. The board followed the recommendation in 2015, however, is yet to announce a dividend for 2016.

"There is no reason to speculate we will not adhere to this," Adil Taqi told Reuters at DAMAC's headquarters in Dubai, adding that it would be unlikely to be more than the target and would require regulatory approval.

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