Green light for Union Properties to pay 2025 dividend of $35m
Dubai property developer Union Properties will pay AED129 million ($35 million) in dividends for 2025, its first such outlay in 11 years, after shareholders gave the green light at their annual general meeting on Tuesday.
The board had proposed a cash dividend of AED0.03 fils per share in February, following the completion of a debt restructuring plan.
The dividend will be paid in April, the company, which trades on the Dubai Financial Market, said in a statement.
Revenue surged 39 percent to AED737 million in 2025, leading to a net profit of AED462 million, a 67 percent year-on-year increase. The total cash balance reached AED494 million – the highest in several years.
Shareholders also elected a new board for the upcoming three-year term after the first quorum reached 68 percent participation, the highest in six years.
Union Properties is preparing a 15-year “rapid growth” strategy to diversify revenue streams and strengthen recurring income across core and new business segments.
The stock closed 1.5 percent lower at AED0.706 on Tuesday and is down 16 percent so far this year.
Further reading:
- Union Properties expects $191m from asset sales
- Union Properties completes repayment of its legacy debts
- Union Properties issues final notice to former chairman
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