Board recommends distribution of 14% of dividends
Abu Dhabi, UAE, 11 March 2017: TheBoard of Directors of Reem Investments PJSC, one of the leading investmentcompanies in Abu Dhabi, held its board meeting on Monday, 6 March 2017, presidedby the Chairman H.H. Sheikh Tahnoon Bin Zayed Al Nahyan to discuss the auditedfinancials for the year 2016.
The Board of Directors approved thefinancials, which reflected a Net Profit of AED 216 million for the financialyear 2016, an increase of 2% over 2015.
The Board recommended the AGM to beheld on 22 March 2017 and proposed 14% cash dividend reflecting an increase of17% over 2015 dividend distribution, subject to the approval of theshareholders.
The strong and diversified NetAssets of AED 5.3 billion, supports the company’s growth plans which in turn willgenerate perennial returns to the shareholders.
Reem Developers, the real estatearm of Reem Investments, has already commenced construction on residentialprojects at Najmat Abu Dhabi in Reem Island and Rawdhat Abu Dhabi in AirportRoad with a combined development value of over AED 500 million that willenhance the future profits and shareholder value.