Abu Dhabi's Aldar Properties hit a three-month high on Tuesday after it proposed a surprise dividend, helping sentiment in United Arab Emirates markets, while small-cap Kuwaiti stocks lifted the index to a five-month high.
Aldar's shares rose 5.1 percent to their highest finish since Nov. 16. The developer, bailed out twice by Abu Dhabi with rescue packages of about $10 billion, swung back into profit in 2011 on the back of land sales to the government and increased home sales.
It posted a net profit of 642.5 million dirhams ($170 million) and proposed a 0.05 dirham dividend.
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