Friday 19 October 2018
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6 months ago

Dubai property developer plunges as shareholders cut dividend

Damac Properties Dubai Co. tumbled after its shareholders approved a lower dividend than what its board recommended for 2017. Shareholders at the real estate developer approved a payout of 15 fils (4 cents) per share compared with the board’s recommendation of 25 fils, the company said in a statement, without providing further details. The shares retreated as much as 9.4 percent, the most in a year.

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