Emaar Properties Board Approves AED 4.4 Billion Special Dividend

Emaar Properties PJSC (DFM:EMAAR) announced that its board of directors has approved a significant AED 4.4 billion special dividend payout. This one-time distribution amounts to AED 0.50 per share and is intended to be in addition to the company's regular annual dividend.

The proposed dividend, which requires approval from both shareholders and regulatory bodies, represents a 4.3% spot yield based on Emaar's closing share price of AED 11.62 on Friday. The announcement contributed to a 6.61% gain in Emaar's share price over the five trading sessions leading up to last Friday, with average daily trading volumes surging to 42.98 million shares, significantly higher than the prior five-session average.

Financial Context and Approvals

This substantial payout corresponds to 39.6% of Emaar's net profit recorded in the first half of the year, which totalled AED 11.1 billion. The developer also reported strong property sales of AED 26.6 billion during the same period and offers a robust revenue backlog of AED 164.9 billion as of June 30, indicating several years of potential income.

While the board has approved the distribution, the special dividend is not yet final. Investors await further details regarding the general meeting notice, approval date, entitlement record, and specific payment timetable. Broker targets for Emaar's stock remain above the current market price, based on assumptions of sustained demand in Dubai and efficient conversion of its development pipeline.