Aldar's stock surges 12% on rise in Q4 net profit and higher dividend for 2018 | ZAWYA MENA Edition:
Shares in Aldar Properties surged on Thursday as the company announced a rise in fourth quarter (Q4) 2018 earnings and higher dividends for 2018.
Aldar’s Q4 2018 earnings amounted to 318.8 million UAE dirhams ($86.8 million),a 125.5 percent year-on-year (y-o-y) increase on the 141.4 million UAE dirhams profit made in Q4 2017.
The company proposed a cash dividend of 14 fils per share for 2018, subject to the approval of its general assembly meeting, compared to a cash dividend of 12 fils per share for 2017 - a 16.6 percent increase.
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