Aldar’s shareholders approve increasing FOL to 49%, AED0.12/share dividend for 2017
The shareholders of Aldar Properties (Aldar) have approved increasing foreign ownership limit in the company’s share capital from 40-49%. During the AGM, shareholders also approved the distribution of a AED944mn cash dividend for 2017 (AED0.12/share), which implies a pay-out ratio of 47.2% and a dividend yield of 5.4%. The ex-dividend date and payment date are set on 29 March and 9 April, respectively.
Aldar Properties (AD): AED2.22 as of 21 Mar. 2018, Rating: Buy, TP: AED2.81/share, MCap: USD4,756mn, ALDAR UH/ALDR.AD
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