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 2016 net profit was Dh3.69 billion, down from Dh4.51bn in 2015, the company said.
The company said its shareholders had approved the distribution of a cash dividend of 25 fils dirhams per share for 2016. That compares with 15 fils per share for the previous year.
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Earnings reports
■ ADIB fourth-quarter profit lower on bad debt provisioning
■ Aldar fourth-quarter profit dips 1 per cent amid 'softer operating market'
■ Quarterly profit slips 9% for Amanat Holdings
■ Arkan Building Materials annual profit declines 25%
■ Drake & Scull's 2016 net loss narrows to Dh787 million
■ Du fails to offset royalty payment rise as profit falls
■ Emaar Properties fourth-quarter net profit up 56%
■ Etisalat profit edges up on growing UAE revenue
■ Manazel Real Estate profit rises 16% in second half
■ Marka will continue with cost-cutting after second straight annual loss
■ Union National Bank's fourth-quarter profit rises 29%, missing forecasts
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* Reuters
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