Union Properties Approves First Dividend in 11 Years, Signaling Strong Financial Comeback

Union Properties announces its first dividend payout in over a decade, reflecting strong financial performance, improved liquidity, and renewed shareholder confidence.

Key Highlights

• Union Properties PJSC has approved a cash dividend of 3 fils per share, marking its first dividend distribution in 11 years.
• The milestone reflects the company’s strong financial recovery and improved cash position following a multi-year transformation strategy.
• The decision signals renewed confidence in delivering consistent shareholder returns and long-term value creation.
• The company’s Annual General Meeting (AGM) witnessed 68% shareholder participation, successfully achieving quorum on the first call for the first time in six years.
• During the AGM, a new Board of Directors was elected for a three-year term, marking the start of a new growth phase.
• Chairman Mohamed Fardan Ali AlFardan highlighted the company’s robust financial performance and strategic progress.
• Total revenue reached Dh736.9 million, representing a 39.4% increase year-on-year, showcasing strong business momentum.
• Operating profit rose significantly to Dh240.7 million, compared to Dh161.8 million previously, indicating improved operational efficiency.
• The company’s cash reserves climbed to Dh494.2 million, reflecting one of its strongest liquidity positions in recent years.
• This enhanced financial strength enables the company to support future growth initiatives and maintain stable returns for investors.
• CEO Amer Khansaheb described the dividend approval as a defining milestone in the company’s transformation journey.
• Over the past four years, Union Properties has focused on disciplined execution, restructuring, and strengthening its financial fundamentals.
• The reinstatement of dividends demonstrates the company’s commitment to rewarding shareholders and rebuilding market confidence.
• The improved financial performance reflects effective cost management, optimized operations, and strategic decision-making.
• The company is now positioned to capitalize on opportunities in Dubai’s growing real estate sector.
• Strong liquidity and profitability provide a solid foundation for future investments and expansion plans.
• The successful AGM and leadership transition mark a new chapter focused on sustainable growth and governance excellence.
• Union Properties aims to continue delivering long-term value through innovation, quality developments, and strategic partnerships.
• The dividend announcement reinforces the company’s positive outlook and financial stability, attracting investor interest.
• Overall, this milestone highlights Union Properties’ successful turnaround and readiness for a new era of growth and shareholder value creation.