{"id":7006,"date":"2016-03-07T00:55:46","date_gmt":"2016-03-06T17:55:46","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=7006"},"modified":"2016-03-06T21:59:45","modified_gmt":"2016-03-06T14:59:45","slug":"damac-plans-15-per-cent-cash-dividend-payout-for-second-half-of-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-plans-15-per-cent-cash-dividend-payout-for-second-half-of-year\/","title":{"rendered":"Damac plans 15 per cent cash dividend payout for second half of year"},"content":{"rendered":"


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\nThe Dubai-based developer Damac Properties proposes to pay a 15 per cent cash dividend for the second half of last year, bringing the total to 25 per cent for the year. The company is recommending that shareholders approve the 15 per cent dividend payment at its forthcoming annual general meeting based on its performance during the second half of last year. Shareholders had already received an interim payment of 10 per cent for the first half of the year, as well as being awarded a further 10 per cent in bonus shares. A spokesman for Damac said that it is maintaining its guidance target first set in 2014, which stated that it would propose to pay a dividend of at least 25 per cent in cash both last year and this year.
\nLast month, Damac announced that its full-year pro\u00adfit increased by 40.6 per cent to Dh4.5 billion – up from Dh3.2bn a year earlier.Revenue more than doubled to Dh8.5bn. Fourth-quarter profit fell by 8 per cent, however, to Dh842.8 million and the company’s chairman, Hussain Sajwani, said that it faced a “challenging economic environment”, citing the lower oil price and currency fluctuations as factors.
\nDespite this, Mr Sajwani, who retains a 72.2 per cent stake in Damac, said the environment was “very different to the one we faced in 2008″ – it was experiencing consolidation rather than a decline. He pointed to a shortfall in supply against expectations, with only 8,000 of an antici\u00adpated 25,000 new homes that were handed over in Dubai last year.”We expect the total supply in Dubai to again fall short of 10,000 new units in 2016, eventually driving the market back into positive pricing growth territory, perhaps towards the second half of the year or early 2017,” Mr Sajwani said.
\nFellow Dubai-listed developers Emaar Properties, Deyaar Development and Union Properties have yet to announce final dividends for last year, but Abu Dhabi-based Aldar Properties said when publishing its financial results last month that it ex\u00adpected to increase its dividend from 9 per cent in 2014 to 10 per cent.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Damac plans 15 per cent cash dividend payout for second half of year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Dubai-based developer Damac Properties proposes to pay a 15 per cent cash dividend...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-7006","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-1P0","jetpack-related-posts":[{"id":44053,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-properties-fourth-quarter-net-profit-rises-1-3\/","url_meta":{"origin":7006,"position":0},"title":"Damac Properties' fourth-quarter net profit rises 1.3%","date":"February 14, 2017","format":false,"excerpt":"\r Damac Properties reported a 1.3 per cent rise in its fourth-quarter net profit on Tuesday.The developer reported a net profit of Dh854.6 million for the three months to December 31, Reuters calculated in the absence of a quarterly breakdown. This was up from Dh844m reported for the year-ago period.Full-year\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-properties-first-quarter-net-profit-drops-15-per-cent\/","url_meta":{"origin":7006,"position":1},"title":"Damac Properties first-quarter net profit drops 15 per cent","date":"May 9, 2016","format":false,"excerpt":"\r Dubai-based developer Damac Properties reported a 42 per cent decline in year-on-year sales for the first quarter of 2016 of Dh1.62 billion compared with Dh2.8bn a year earlier.Net profit also dropped by 15 per cent to Dh1.05bn.The amount of new sales booked during the quarter were Dh2bn - a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54865,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-positive-amid-tough-market\/","url_meta":{"origin":7006,"position":2},"title":"Damac positive amid tough market","date":"May 15, 2017","format":false,"excerpt":"\r Damac Properties yesterday reported a 16 per cent fall in first-quarter net profit, missing analysts' forecasts, because of lower property development revenue and a sharp drop in income from the cancellation of units. The Dubai-based developer of Damac Hills and Aykon City posted a net income of Dh880 million,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33350,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-profit-slips-as-it-looks-ahead-to-stronger-performance-from-dubai-property-market-2\/","url_meta":{"origin":7006,"position":3},"title":"Damac profit slips as it looks ahead to stronger performance from Dubai property market","date":"November 7, 2016","format":false,"excerpt":"\r Damac Properties reported an 11.7 per cent fall in third quarter profits, as the developer's chairman acknowledged that 2016 would be remembered as \"the year of market turmoil and macroeconomic pressures\". Damac, the company behind Dubai's Akoya development, said its profit for the three months to the end of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40079,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-properties-expects-to-maintain-25-dividend-cfo\/","url_meta":{"origin":7006,"position":4},"title":"DAMAC Properties expects to maintain 25% dividend – CFO","date":"January 8, 2017","format":false,"excerpt":"\r Profit at DAMAC fell 23 percent to $773.23 million in the nine months to September\r \r Source : arabianbusiness.com\r Read more...DAMAC Properties expects to maintain 25% dividend - CFO","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33346,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/damac-profit-slips-as-it-looks-ahead-to-stronger-performance-from-dubai-property-market\/","url_meta":{"origin":7006,"position":5},"title":"Damac profit slips as it looks ahead to stronger performance from Dubai property market","date":"November 7, 2016","format":false,"excerpt":"\r Damac Properties reported an 11.7 per cent fall in third quarter profits, as the developer's chairman acknowledged that 2016 would be remembered as \"the year of market turmoil and macroeconomic pressures\". Damac, the company behind Dubai's Akoya development, said its profit for the three months to the end of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/7006"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=7006"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/7006\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=7006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=7006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=7006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}