Emaar Properties (PJSC) Announces Annual General Meeting and Dividend Distribution
Emaar Properties (PJSC) announces its Annual General Meeting for shareholders on 22 April 2024. The meeting will review the company's financial position, activities, and dividend distribution among other key agenda items.
Summary
Emaar Properties (PJSC) has invited shareholders to a crucial Annual General Meeting with the agenda of reviewing the company's financial position, activities, and proposed dividend distribution. The company's future, however, seems uncertain.
Emaar Properties (PJSC), a leading property investment and development company based in the United Arab Emirates, has announced its Annual General Meeting (AGM) to be held on 22 April 2024. The meeting will be conducted remotely and at the Address Sky View Hotel in Dubai. If a quorum is not met, the meeting will be rescheduled for 29 April 2024.
The meeting's agenda includes a comprehensive review and approval of the company's financial position and activities for the fiscal year ending 31 December 2023, the auditors' report, and the balance sheet. A key highlight of the meeting will be the discussion on a proposed dividend distribution of AED 4,419,394,924.50, representing 50% of the share capital.
Other agenda items include approving the Board Remuneration Policy, the Board of Directors' remuneration, discharging the Board and Auditors from liability for the fiscal year 2023, appointing auditors for the fiscal year 2024, electing Board members, and granting approval for Board members to carry out company-related activities.
Despite these promising developments, the future of Emaar Properties (PJSC) seems uncertain. The company's recent yields, although positive, are quite low, with a 3-month yield at 0.08% and a 1-month yield at 0.04%. This suggests a sluggish growth rate, which might be a cause for concern for potential investors.
Furthermore, the company's market cap of 72,124,525,168, while substantial, does not necessarily indicate a strong future performance. Market cap can be influenced by a variety of factors, many of which are external and beyond the company's control.
Given these factors, investors should approach Emaar Properties (PJSC) with caution. While the proposed dividend distribution is certainly attractive, the company's future growth potential seems uncertain at best. As such, potential investors would do well to carefully consider their options before making a decision.
Source
Summary
Emaar Properties (PJSC) has invited its shareholders to attend the Annual General Meeting on 22 April 2024, to be held remotely and at the Address Sky View Hotel in Dubai. If a quorum is not met, the meeting will be rescheduled for 29 April 2024. The meeting's agenda includes reviewing and approving the company's financial position and activities for the fiscal year ending 31 December 2023, the auditors' report, and the balance sheet. It will also discuss a dividend distribution of AED 4,419,394,924.50, representing 50% of the share capital. Other items include approving the Board Remuneration Policy, the Board of Directors' remuneration, discharging the Board and Auditors from liability for the fiscal year 2023, appointing auditors for the fiscal year 2024, electing Board members, and granting approval for Board members to carry out company-related activities. Shareholders can vote on resolutions through www.smartagm.ae.
Summary
The shareholder(s) of EMAAR PROPERTIES (PJSC) is/are appointing a representative to vote on their behalf at the Annual General Assembly meeting on 22 April 2024. The proxy or power of attorney must be authenticated by a bank or company licensed in the UAE, a commerce chamber or economic department in the UAE, a Notary Public, or any other entity licensed to carry out attestation activities. Once the proxy form is completed, it should be sent with supporting documents to CapitalMarketsTeam@adcb.com.
