On Tuesday, the exclusive toll gate operator in Dubai, Salik Company PJSC, said Dh550,035,000, or 7.3338 fils per share, in cash dividends, would be distributed. This figure represents 100% of the net profit for the second half of the fiscal year, which ends on December 31, 2023.
The choice was made during the business’s Annual General Meeting (AGM), which was presided over by Mattar Al Tayer, the chairman of Salik’s board of directors. The shareholders approved the Board of Directors’ report on the Company’s activities and its financial statements for the fiscal year that ended on December 31, 2023. Included in the report was the value of cash dividends distributable for the fiscal year 2023, which came to Dh1,097,962,219 (or 14.6395 fils per share), or roughly 100% of the distributable net profit for 2023.
Several special resolutions were approved to wrap up Salik’s AGM. One of these was expanding the definition of “government shareholder” to include any organization or person chosen or proposed by the Dubai government. Modifications were also made to the articles of organization to include new business ventures within Salik’s operations. Along with approving Salik’s corporate social responsibility policy, the AGM also set aside a portion of the company’s anticipated earnings for CSR projects.
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