Emaar Properties’ stock closed at its highest level in the Dubai Financial Market yesterday, reaching a peak not seen since March 2008. This surge follows the company’s Board of Directors approving a significant dividend distribution amounting to 100% of the company’s capital for the current year as well as for the forthcoming years, Invest-Gate reports.

For the second consecutive day, Emaar’s shares saw maximum gains, with trading volumes hitting AED 1.3 billion, accounting for an impressive 60% of the total transactions in the Dubai market. Throughout this year, Emaar’s stock has appreciated nearly 60%, reflecting strong market interest.

The Board of Directors has introduced a long-term dividend policy with a focus on the company’s cash flow and anticipated operational cash flow forecasts. The new dividend distribution is notably double that of last year’s figure, which was set at 50 fils per share, amounting to AED 4.4 billion, and is four times the distribution issued in 2022.

Additionally, the Board approved the company’s budget for the upcoming year and appointed an external auditor for the year 2025. Financial market experts anticipate that Emaar’s solid financial standing will allow the company to continue executing its expansion plans, bolstered by growing investor confidence, particularly following the announcement of the new dividends, which highlight the company’s robust financial health.