Two big Dubai stocks go ex-dividend

Dubai’s stock-market declined on Wednesday as two companies went ex-dividend -the date after which the buyer of the shares will not be eligible to receive the dividend for the previous period.

Emaar Properties was down 2.1 per cent to Dh3.18. The region's biggest property is expected to pay a cash dividend of 10 fills per share.

Dubai Investments fell 6 per cent to 79 fils. The company is expected to pay payout 5 per cent of its profits for last year to shareholders.

Dubai Financial Market Company, the only publicly traded bourse in the Gulf, will hold a meeting with its board of directors meeting on May 7 “to discuss the financial performance of the company and approve the review report and condensed consolidated interim financial information for the three month period ended 31 March,” it said in a statement on its website today.

The DFM General Index was down 1.2 per cent to 1603.78 points, while the Abu Dhabi Securities Exchange General Index was little changed at 2503.15 points.

Elsewhere in the region, Kuwait’s measure added 0.4 per cent to 6426.20 points. Bahrain’s index was little changed at 1152.22 points. Oman’s MSM 30 Index added 0.4 per cent to 5857.70 points. Qatar’s QE Index added 0.1 per cent to 8682.81 points. The Saudi Tadawul All-Share Index slipped 0.1 per cent to 7545.28 points.

halsayegh@thenational.ae

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