Deyaar Development PJSC (Deyaar), a prominent Dubai-based property developer, recently revealed its Board of Directors' approval to distribute dividends to shareholders for the fiscal year 2023. This decision marks a significant milestone for the company, signifying its commitment to creating long-term value for its stakeholders.
The specific details regarding the dividend amount and record date will be announced in the near future, pending the approval of shareholders at Deyaar's upcoming Annual General Meeting. This determination reflects the company's robust financial performance and its dedication to rewarding shareholders for their continued trust and investment.
Deyaar has consistently delivered sustainable growth and profitability, and this dividend distribution serves as a testament to its commitment to maximizing value for its stakeholders. The company's sound financial health positions it to navigate future endeavors while delivering returns to its shareholders.
This move comes after a period of significant transformation for Deyaar. In 2022, the company underwent a strategic reset, and the positive outcomes are now being realized in 2023. This successful turnaround is attributed to Deyaar's commitment to innovation, efficiency, and a focus on core competencies within the Dubai property market.
The Board of Directors' chairman, Mr. Abdullah Al Hamli, expressed his delight at this landmark decision. He stated that the distribution of a 4% dividend, amounting to AED 175 million (equivalent to 4 fils per share), signifies a remarkable achievement for Deyaar. He further emphasized that this choice reflects the company's unwavering commitment to its shareholders and its trajectory of steady growth.
Deyaar's decision to distribute dividends is expected to be well-received by shareholders, solidifying their trust in the company's leadership and future prospects. The company's commitment to financial stability and shareholder value paves the way for continued success in the dynamic Dubai property market.