Arabtec Scraps Cash Portion Of 2013 Dividend For More Stock

The company had earlier proposed a cash dividend of Dhs0.1 ($0.03) per share plus bonus shares worth 30 per cent of its share capital.



Dubai builder Arabtec has scrapped plans for a cash dividend to shareholders for 2013 and raised its stock dividend to 40 per cent at the annual shareholder meeting on Wednesday.

The company’s board had earlier proposed a cash dividend of Dhs0.1 ($0.03) per share plus bonus shares worth 30 per cent of its share capital.

Arabtec had given no dividend in 2012.