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Dubai’s Damac Properties Proposes 10% Bonus Share Issue

Dubai’s Damac Properties Proposes 10% Bonus Share Issue

Damac reported a fourth-quarter net profit of $249.8 million, up 11 per cent from the year-ago period.

Dubai’s Damac Properties has proposed a 10 per cent bonus share issue equivalent to Dhs500 million ($136.1 million), the developer said in a bourse statement on Monday.

Earlier this month, Damac reported a fourth-quarter net profit of $249.8 million, up 11 per cent from the year-ago period.

DAMAC’s 2014 full-year profit was $937 million, up from $641.5 million in 2013, the company said in a filing to London’s bourse.

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