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Dubai Financial Market company “PJSC” shareholders approved balance sheet and income statement for the fiscal year ending December 31st 2009. During the ordinary annual general meeting held this evening “ Wednesday, April 21st 2010”, and headed by Essa Kazim, Executive Chairman of the company, the shareholders endorsed Board of Directors recommendation of 5% cash dividend for the year 2009, equivalent to AED 397.3 million “115% of 2009 net profits”. It is noteworthy that the company distributed a cash dividend of 10% for the year 2007, equivalent to AED 794 million, while cash dividend for the year 2008 stood at 8% equivalent to AED 635 million.
DFM shareholders also ratified BOD’s report about the company’s performance and its financial position for the fiscal year ending December 31st 2009, the external auditor’s report and the Sharia’a and Fatwa supervisory board report.
DFM Company recorded a net profit of AED 346.6 million for the year 2009, compared to AED 605 million in 2008. Total revenues reached to AED 502.9 million at the end of 2009, compared to AED 1.01 billion in 2008. The total revenue comprised of AED 405.9 million operational revenues and AED 97 million of investment revenues and others. The earning per share stood at AED 0.04 compared to AED 0.08 at the end of 2008.
The DFM company shareholders elected the new Board of Directors for three years. The new board consists of Abduljalil Yousef, Rashid Hamad Alshamsi, Mussabeh Mohammed Belgaizi, Ali Rashid Al Mazroui, Adil Al Fahim, Mohammed Humaid Al Miri, and Essa Abdul Fattah Kazim.
On the other hand, the Company’s Extra-ordinary Meeting, which followed The Annual General Meeting, approved the modification of the article of association in line with the Ministerial Decree No. 518 of 2009 regarding Corporate Governance and Institutional Discipline Rules.
