Emaar Properties board recommends a 2016 DPS of AED0.15
Emaar properties has announced that its board has proposed the distribution of a cash dividend of AED0.15 per share for 2016 profit (15% of par value), with a payout ratio of 20.5% (2015: 26.3%), lower than our expected DPS of AED0.20/share. This implies a dividend yield of 2.0%.
Emaar (DU): AED7.36 as of 7 Mar. 2017, Rating: Buy, TP: AED10.29/share, MCap: USD14,358mn, EMAAR UH/EMAR.DU
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