Dubai-based DFM shareholders approve 3% cash dividend for 2021
UAE – The shareholders of the Dubai Financial Market Company have approved the board’s recommendation to distribute a three percent cash dividend equivalent to 240 million dirhams.
At the general meeting held electronically on Tuesday, shareholders also approved the balance sheet for the year ended December 31, 2021. Helal Al Marri, chairman of DFM, chaired the meeting.
The shareholders also ratified the report of the board of directors on the performance of the company and its financial situation for the financial year ended December 31, 2021, the report of the auditor as well as the report of the fatwa and sharia supervisory board.
The shareholders also discharged the members of the board of directors and the auditors from their responsibilities for the financial year ended December 31, 2021 and appointed PricewaterhouseCoopers as auditors for the financial year 2022 and fixed their fees. .
In addition, the shareholders approved special resolutions, including the ratification of related party transactions during the course of 2021 and approved the execution of related party transactions provided that such transactions do not exceed 30% of the capital of the company for the year 2022 and be presented for approval during the year 2021. the next AGM.
The General Meeting also approved the sale of treasury shares in the amount of 4,236,831 shares previously allocated to the company when it was listed on the stock market under its stock option program for employees and authorized the Board of Directors to implement this resolution.
The shareholders approved the appointment of the members of the fatwa and sharia supervisory board for the year 2022. The zakat of the shares for the year 2021 was calculated using the net asset method at Dh 8.96 for 1,000 shares. The Shariah Board urged the shareholders, who purchased the shares for holding purposes, to distribute this zakat according to their holdings. The Shariah Board has also calculated the non-Shariah-compliant income from the operations of the company as well as its subsidiaries during the years 2020 and 2021, at a total of Dh47.7 million, or Dh5.97 for 1,000 shares.
It should be noted that the Dubai Financial Market Company recorded a consolidated net profit of MAD 99.1 million for the year ended December 31, 2021 compared to MAD 142.6 million in 2020. Total revenue reached 298, 1 million Dh against 351.8 million Dh.
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