MIDEAST STOCKS-Emaar dividend drags down Dubai, Saudi Electricity plunges:
"Weakness in Emaar Properties after news of a special dividend payment pulled down Dubai’s stock market in early trade on Wednesday, while utility Saudi Electricity plunged after it said it would pay increased revenues to the state.
The Dubai stock index sank 1.6 percent as Emaar tumbled to its lowest level since June in heavy trade.
Emaar said it would pay a special dividend of 4 billion dirhams ($1.1 billion) related to its listing of Emaar Development - 3 billion dirhams next month and 1 billion after its annual general assembly in April."
'via Blog this'
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