AGM approves board's 10% cash dividend proposal
Reem Investments, the Abu Dhabi-based investment company, has announced net profit of Dh152 million for 2013 as compared to Dh103.3 million in the previous year, an increase of 47 per cent.
Abdulhamid Saeed, Managing Director of Reem Investments, commenting on the company's performance on behalf of its Chairman Sheikh Tahnoon bin Zayed Al Nahyan, said: "Reem Investments continued to adopt prudent measures in response to changing market conditions to ensure that the company is well positioned to create long term value for its shareholders".
The board of directors proposed 10 per cent cash dividend distribution based on the capital of Dh777.5 million which has been approved by the AGM. The company continues to remain on a strong footing on the balance sheet as reflected in the net assets of Dh4.8 billion.
In the chairman's report, Abdulhamid said the company had commenced work on the construction of Nalaya Villas, comprising 42 luxury villas in Najmat, on Reem Island, Abu Dhabi. This exclusive villa community offers residents an exotic beachfront lifestyle in rich surroundings with a choice of three, four and five bedroom luxury-inspired villas.
© Emirates 24|7 2014
