#Dubai DFM's net profit falls by 4%; $54mln cash dividend proposed | ZAWYA MENA Edition

Dubai DFM's net profit falls by 4%; $54mln cash dividend proposed | ZAWYA MENA Edition:

The Dubai Financial Market (DFM) Company saw its net profits dip last year on the back of low trading values.

The listed stock exchange reported a net profit of 120.6 million UAE dirhams ($32.8 million) for the financial year ending December 31, 2019, down by 4 percent compared to the 125.5 million ($34.2 million) recorded in 2018.

“[The profit drop] is due to the decline of total trading value [last year],” a spokesperson told Zawya on Monday.

Despite the slump, the DFM’s board of directors has proposed a cash dividend of 200 million UAE dirhams ($54 million), which is equivalent to 2.5 percent of the company’s capital.