Damac Properties expects to maintain its 25% cash dividend policy in 2016, despite a 23% Y-o-Y decline in profit during 9M16, as per Damac’s CFO Adil Taqi. The company’s board set a minimum 25% cash dividend target in 2014 for the following two years. Taqi added that Dubai’s property market is likely to be flat in 2017, and the company expects sales of AED7bn. (Reuters) DAMAC Properties (DU): AED2.68 as of 8 January 2017, Rating: Neutral, TP: AED2.30 per share, MCap: USD4,418mn, DAMAC UH / DAMAC.DU
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