Dubai Investments distributes 12% cash dividend

Dubai Investments has decided to distribute 12 per cent cash dividend to its shareholders for the financial year ending December 31, 2017.
A proposal to this effect was approved by the shareholders at the company's 22nd annual general meeting on Wednesday. The company's shareholders also approved all other resolutions presented by Dubai Investments board of directors.
The company presented its 2017 financial results, which disclosed a net profit of Dh1,001.6 million for 2017. The company's profitability was in line with the previous year if the one-off gain from divestments amounting to Dh186 million is excluded. Total assets increased by Dh890 million to reach Dh17 billion as of December 31, 2017.
At the AGM, Hussain Mahyoob Sultan Al Junaidy, vice-chairman of the board of directors of Dubai Investments, read out the chairman's report highlighting the company's growth.
Elaborating on future prospects, the report said the company's outlook for 2018 is positive, with various real estate developments and exciting investments in the pipeline.
"The potential IPO of Dubai Investments subsidiary Emicool and a mixed-use Real Estate Investment Trust [REIT] through Al Mal Capital will provide additional investment opportunities to the shareholders, significantly enhancing Dubai Investments' profile locally and regionally and creating value to shareholders." 
Meanwhile Dubai Investments has unveiled its new corporate logo and brand identity in line with its futuristic growth vision across the UAE, regionally and internationally.
The diversified investment company listed on the Dubai Financial Market said the new logo and identity is part of the company's strategy to align its diversified business portfolio into different industry verticals - Real Estate; Direct Investments; Building Materials & Construction and Others, including education and healthcare sectors.
Khalid bin Kalban, managing director and CEO of Dubai Investments, said Dubai Investments continues to invest in its capabilities to continue its success.
"The new identity builds on the company's strong brand equity by integrating its businesses, highlighting the synergy across its subsidiaries and strengthening its uniqueness through enhanced value creation, aligned to its futuristic vision."
He added: "Over the last 23 years, the company not only invested in diversified sectors but also unveiled innovative concepts and developed the businesses to build a strong portfolio. Now is the time for Dubai Investments to target new growth horizons by prioritizing focus sectors as well as markets as part of its envisioned goal to become a global company."
The new logo also echoes Dubai Investments' strategic roadmap on sustained investments that transcends sectors and geographies in an evolving business landscape. - business@khaleejtimes.com