Emaar Properties shares jumped by more than 11%, recording its highest price since January 2008

Emaar Properties shares opened trading today, Tuesday, up 11.8% at 12.65 dirhams, recording its highest price since January 2008.

Share trading in the first five minutes reached 11 million shares, with a total value exceeding 145 million dirhams.

Yesterday, Emaar Properties shares closed the session at the beginning of this week at a maximum high of 11.00 dirhams, recording the highest closing in 10 years.

This increase came as a result of the Board of Directors of Emaar Properties, last Friday, agreeing to distribute dividends of 100% of the company’s capital for the current year and for the next few years.

These distributions are double the company’s distributions for last year, amounting to 50 fils per share, worth 4.4 billion dirhams, and four times the distributions for the year 2022.

Thus, the Board of Directors adopted a long-term policy for distributing profits to shareholders, taking into account the cash flows provided by the company, and based on current expectations of operating cash flows.

The Board of Directors also approved the company’s budget for next year and appointed an external auditor for the company for the year 2025.