Emaar Properties' annual shareholder meeting this week was hailed by investors not just because the company consented to pay a sizeable dividend but also because the event was one of the country's most forceful displays of shareholder activism.
More than 100 investors attended the three-hour meeting on Monday at The Address Hotel in Dubai, confronting company officials over why they were not paying a dividend and questioning line items in the financial statements.
Emaar ultimately agreed to pay a 10 per cent dividend, totalling Dh610 million (US$166m), its first distribution of profit to shareholders since the onset of the financial crisis in 2008.
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