During the Annual General Meeting (AGM), Dubai’s Salik shareholders approved the Board of Directors’ report on the company‘s activity and its financial statements for the fiscal year that ended on December 31, 2023. As part of this approval, the distribution of cash dividends was also agreed upon. The cash dividends amounted to AED550,035,000 ($149.75 million), which is equivalent to 7.3338 fils per share. These dividends represent 100 percent of the net profit generated in the second half of the fiscal year that ended on December 31, 2023. The AGM of Salik, the exclusive toll gate operator in Dubai, was chaired by Mattar Al Tayer, Chairman of Salik’s Board of Directors.
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Furthermore, the total value of cash dividends distributable for the fiscal year 2023 was determined to be AED 1,097,962,219. This is equivalent to 14.6395 fils per share. Also, this amount represents approximately 100 percent of the distributable net profit for the year 2023.
Special Resolutions
In addition to the dividend approval, the AGM also passed several Special Resolutions. One of these resolutions involved amending the definition of ‘Government Shareholder’. The amendment includes any entity or individual designated or nominated by the Government of Dubai. Additionally, amendments were made to the Articles of Association to incorporate new business activities into Salik’s operations.
SOURCE: TheMiddleEastEconomy
