Dubai Investments PJSC Announces 12.5% Cash Dividend Amidst Sustained Growth
Dubai Investments PJSC, a leading investment company in the UAE, has announced a significant cash dividend for shareholders, reflecting a robust financial performance in 2023 and promising expansion plans for 2024.
Summary
Dubai Investments PJSC has declared a 12.5% cash dividend for shareholders for the financial year ending December 31, 2023. This follows a reported profit of AED 1,130.94 million for 2023, a considerable increase from the previous year. The company has also outlined its growth plans for 2024, including expansion in the real estate sector and increased investments in Al Mal Capital and Al Mal Capital REIT.
Dubai Investments PJSC, a prominent investment company listed on the Dubai Financial Market, has recently announced a 12.5% cash dividend for shareholders for the financial year ending December 31, 2023. This announcement came at the company's 28th Annual General Meeting and reflects the company's strong financial performance for the year.
The company reported a substantial profit of AED 1,130.94 million for 2023, higher by AED 502.79 million if adjusted for a one-off gain from the previous year. This increase in profits can be attributed to the sale of real estate properties, higher rental income, and gains on investments. These factors indicate a robust financial health and a positive investment climate for the company.
Looking ahead, the Chairman, Abdulrahman Ghanem Abdulrahman Al Mutaiwee, has outlined the company's growth plans for 2024. These include expansion in the real estate sector and increased investments in Al Mal Capital and Al Mal Capital REIT. In addition, the company is making strides in digital banking with Monument Bank, showing its commitment to innovation and excellence.
Given the company's current performance and future plans, investors may consider holding onto their stocks. While the company's recent success and expansion plans are promising, the inherent volatility of the market and the neutral future view of the company suggest a cautious approach.
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Summary
Dubai Investments, a leading investment company listed on the Dubai Financial Market, has announced a 12.5% cash dividend for shareholders for the financial year ending December 31, 2023. This was approved at the company's 28th Annual General Meeting. The company reported a profit of AED 1,130.94 million for 2023, higher by AED 502.79 million if adjusted for a one-off gain from the previous year. The increase in profits is attributed to the sale of real estate properties, higher rental income, and gains on investments. The Chairman, Abdulrahman Ghanem Abdulrahman Al Mutaiwee, highlighted the company's growth plans for 2024, including expansion in the real estate sector and increased investments in Al Mal Capital and Al Mal Capital REIT. He also mentioned the company's entry into digital banking with Monument Bank and its commitment to innovation and excellence through investments in healthcare.
