Latest news with #AED2.4
Zawya
12-03-2025
- Business
- Zawya
Borouge dividend yield hits 6.7%, offering big investor returns
Borouge's financial results for 2024 underline the company's resilience and profitability, with net earnings of AED4.5 billion ($1.24 billion), marking a 24% year-on-year increase. The company also reported an industry-leading ebitda margin of 41%, further cementing its reputation as one of the most efficient and profitable players in the petrochemicals sector. Shareholders of Borouge are expected to approve an AED2.4 billion ($650 million) cash dividend for the second half of 2024 at the company's upcoming Annual General Meeting (AGM) on April 7. This final payment will bring Borouge's total dividends for the year to AED4.8 billion ($1.3 billion), reinforcing its position as an attractive investment opportunity in the region. Investors seeking eligibility for the final dividend must hold Borouge shares by April 15, with payments set for distribution on April 28. Borouge CEO Hazeem Sultan Al Suwaidi said: "This is an exciting time for Borouge shareholders, as the company continues to deliver strong dividends, underscoring our commitment to driving value for our shareholders." "With a solid business model and continuous innovation, Borouge remains a strong contender for investors looking for value opportunities," he stated. Beyond its strong dividend profile, Borouge's growth trajectory is poised to accelerate following the recently announced merger of Borouge and OMV's Borealis to create Borouge Group International and the acquisition of Nova OVA Chemicals. This consolidation will create the world's fourth-largest polyolefins company, valued at AED220+ billion ($60 billion), significantly enhancing Borouge's global profile. The newly formed Borouge Group International is expected to benefit from a higher dividend payout, expanded market access, advanced technological capabilities, and complementary product lines. With commercial and manufacturing operations spanning North America, Europe, Asia, the Middle East, and Africa, Borouge Group International presence in the global petrochemicals industry is set to strengthen, offering further opportunities for growth and value creation. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
11-03-2025
- Business
- Trade Arabia
Borouge dividend yield hits 6.7pc, offering big investor returns
Borouge's financial results for 2024 underline the company's resilience and profitability, with net earnings of AED4.5 billion ($1.24 billion), marking a 24% year-on-year increase. The company also reported an industry-leading ebitda margin of 41%, further cementing its reputation as one of the most efficient and profitable players in the petrochemicals sector. Shareholders of Borouge are expected to approve an AED2.4 billion ($650 million) cash dividend for the second half of 2024 at the company's upcoming Annual General Meeting (AGM) on April 7. This final payment will bring Borouge's total dividends for the year to AED4.8 billion ($1.3 billion), reinforcing its position as an attractive investment opportunity in the region. Investors seeking eligibility for the final dividend must hold Borouge shares by April 15, with payments set for distribution on April 28. Borouge CEO Hazeem Sultan Al Suwaidi said: "This is an exciting time for Borouge shareholders, as the company continues to deliver strong dividends, underscoring our commitment to driving value for our shareholders." "With a solid business model and continuous innovation, Borouge remains a strong contender for investors looking for value opportunities," he stated. Beyond its strong dividend profile, Borouge's growth trajectory is poised to accelerate following the recently announced merger of Borouge and OMV's Borealis to create Borouge Group International and the acquisition of Nova OVA Chemicals. This consolidation will create the world's fourth-largest polyolefins company, valued at AED220+ billion ($60 billion), significantly enhancing Borouge's global profile. The newly formed Borouge Group International is expected to benefit from a higher dividend payout, expanded market access, advanced technological capabilities, and complementary product lines. With commercial and manufacturing operations spanning North America, Europe, Asia, the Middle East, and Africa, Borouge Group International presence in the global petrochemicals industry is set to strengthen, offering further opportunities for growth and value creation.
Trade Arabia
11-03-2025
- Business
- Trade Arabia
Tecom shareholders approve $109m cash dividend for H2 2024
Tecom Group said its shareholders have approved the financial statements for FY 2024 as well as the recommendation by the board of directors to distribute a cash dividend of AED400 million ($109 million) - accounting for 8fils per share - for the second half of 2024. The announcement came during the Annual General Assembly Meeting, where shareholders re-elected the Board of Directors and approved the financial statements for the year that ended December 31, 2024. With this approval, the total cash dividends from Tecom have risen to AED800 million (16 fils per share), in line with the approved dividend policy in place until the end of the first half of 2025. Lauding the move, Chairman Malek Al Malek said: "Tecom Group's strong performance through 2024 has allowed us to implement our strategic investments. This includes AED2.7 billion of investments to deliver sustainable growth as we continue to expand and contribute to Dubai's economic success whilst providing increased returns for our shareholders." Tecom Group has announced a 11% year-on-year (YoY) increase in revenues which soared to AED2.4 billion, with occupancy and retention rates of 94% and 92%, respectively.
Zawya
11-03-2025
- Business
- Zawya
TECOM Group shareholders approve $109mln cash dividend for H2 2024
DUBAI - TECOM Group shareholders have approved the financial statements for the year that ended 31st December 2024 as well as the recommendation by the Board of Directors to distribute a cash dividend of AED400 million (8 fils per share) for the second half of 2024, bringing total cash dividends to AED800 million (16 fils per share), in line with the approved dividend policy in place until the end of the first half of 2025. The announcement came during the Annual General Assembly Meeting, where shareholders re-elected the Board of Directors and approved the financial statements for the year that ended 31st December 2024. Malek Al Malek, Chairman of TECOM Group, said, "TECOM Group's strong performance through 2024 has allowed us to implement our strategic investments. This includes AED2.7 billion of investments to deliver sustainable growth as we continue to expand and contribute to Dubai's economic success whilst providing increased returns for our shareholders." TECOM Group announced an 11 percent year-on-year (YoY) increase in revenues to AED2.4 billion, with occupancy and retention rates of 94 percent and 92 percent, respectively. Full year net profits grew by 14 percent YoY to AED1.2 billion with funds from operations (FFO) of AED1.6 billion, led by improved collections and income-generating assets' performance.
Zawya
25-02-2025
- Business
- Zawya
Sharjah CP reviews expansion project updates at Sharjah International Airport
H.H. Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, accompanied by H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah, reviewed on Tuesday morning, at the Ruler's Office, the latest developments of the expansion project and future plans for Sharjah International Airport. H.H. Sheikh Sultan received a detailed briefing on the airport's passenger terminal expansion project, which is designed to enhance capacity to accommodate 20 million passengers annually. The recent update showcased a number of completed projects that were carried out on schedule. These include the project and public services building, the new aircraft parking stands, the design of the road network, and the vehicle parking areas. In a recent visual presentation, the Crown Prince received an update on various ongoing construction projects, including details on supply phases, packages currently in the design stage, and those projects that are under tendering. The review highlighted significant ongoing projects, related packages, and prospective development strategies for the facilities at Sharjah International Airport, accompanied by a timeline for forthcoming initiatives. H.H. Sheikh Sultan reviewed plans for building an additional runway, designing a new passenger terminal, and developing a road network to link the new terminal with existing airport facilities. These projects are integral to the ambitious strategy aimed at increasing the airport's capacity. The expansion of the passenger terminal stands out as the most significant part in an extensive range of development initiatives, with an overall investment totalling AED2.4 billion. Completion of the entire expansion is anticipated by the close of 2027. The Sharjah Airport Authority has launched a series of projects designed to improve logistics operations. Efforts are underway to enhance infrastructure, buildings, and systems to align with environmental sustainability standards. Key initiatives focus on reducing carbon emissions while also enhancing service quality and operational efficiency. The Authority's strategy is to improve the airport's status, targeting a position among the top five regional airports renowned for travel experience and customer service. The meeting was attended by Sheikh Khalid bin Issam Al Qasimi, Chairman of the Department of Civil Aviation; Sheikh Khalid bin Issam Al Qasimi, Chairman of the Sharjah Civil Aviation Department; Ali Salem Al Madfa, Chairman of Sharjah International Airport Authority; along with several project engineers.
