Dubai Financial Market company “PJSC” shareholders approved the company’s balance sheet and income statement for the fiscal year ending December 31st 2008. During the ordinary annual general meeting held this evening “ Sunday, April 5th 2009”, and headed by Essa Kazim, executive chairman of the company, the shareholders endorsed board of directors recommendation of 8% cash dividend for the year 2008, equivalent to AED 635 million “105% of 2008 net profits”. Cash dividend for the year 2007 stood at 10% equivalent to AED 794 million.
DFM shareholders ratified BOD’s report about the company’s performance and its financial position for the fiscal year ending December 31st 2008, the external auditor’s report and the Sharia’a and Fatwa supervisory board report. The shareholders ratified discontinuation of 10% deduction allocated to the general reserve account.
DFM Company recorded a net profit of AED 605 million for the year 2008, compared to AED 972 million in 2007, after excluding IPO profits which is extraordinary profit. Operating profits of the fourth quarter 2008 stood at AED 74.3 million, while earning per share was AED 0.08 compared to AED 0.18 at the end of 2007.
