AED200 million cash dividend for H2 2022 approved by TECOM Group shareholders

The TECOM Group, a Dubai-based developer and operator of business communities, announced the approval of their financial statements for the year ending on December 31st, 2022. During the Annual General Assembly Meeting at Dubai Internet City, the Board of Directors approved a cash dividend of AED200 million for April 2023, bringing the total amount of dividend distributions for the second half of 2022 to AED400 million.
TECOM Group’s approved dividend distribution of AED200 million is in accordance with the company’s previously announced dividend policy of issuing AED800 million annually, which will be distributed in semi-annual installments to shareholders through September 2025. All future dividend distributions will be subject to the Board of Directors’ recommendation and shareholders’ approval.
Malek Al Malek, Chairman of TECOM Group, expressed his confidence in the Group’s growth prospects and the strong financial position of the company at the end of 2022. He said, “Today’s dividend announcement reflects our ongoing confidence in TECOM Group’s growth prospects and recognizes the Group’s strong financial position at the end of 2022. Buoyant consumer confidence and an increase in demand for commercial and industrial real estate in Dubai have positively contributed to our strong cash-flow generation.”
TECOM Group reported robust financial results for the year ending December 31st, 2022. Revenues reached AED1.97 billion, the highest in 22 years, and net profit increased by 28% YoY. The total value of TECOM Group’s investment property portfolio increased by 9.7% since March 2022, reaching AED21.29 billion by the end of 2022. The Company’s recurring free cash flow increased by 21% YoY to AED964 million due to healthy accounts receivables and effective cash conversion.
TECOM Group has a well-balanced portfolio of assets with short- and long-term contracts that support cash flow predictability. The Group offers a diverse and customized leasing portfolio, including offices, co-working spaces, warehouses, and land, which cater to over 9,500 customers and more than 105,000 professionals.
Additionally, TECOM Group offers value-added services to deliver a competitive and attractive environment for businesses and entrepreneurs to thrive in and to facilitate engagement among the districts’ community members.
TECOM Group’s robust financial performance and strong cash flow generation reflect the resilience and adaptability of their business model in a challenging economic environment. The approved dividend distribution of AED200 million further demonstrates the Group’s commitment to delivering long-term value to shareholders while supporting their growth strategy.
fjota
clomid prices in south africa clomid tablete where can i get cheap clomiphene pill where to get clomiphene tablets can i order generic clomiphene without a prescription generic clomiphene get generic clomiphene pills
June 7, 2025cialis film coated tablets tadalafil
More posts like this would prosper the blogosphere more useful.
June 9, 2025flagyl suppository
More posts like this would bring about the blogosphere more useful.
June 10, 2025t4o31
buy zithromax 500mg pills – purchase zithromax sale cost flagyl
June 12, 2025klnet
rybelsus oral – periactin 4mg brand oral periactin 4mg
June 14, 2025vb6fm
buy domperidone 10mg without prescription – purchase sumycin cyclobenzaprine brand
June 16, 2025gcl1e
oral augmentin 625mg – https://atbioinfo.com/ ampicillin pill
June 25, 202522lil
cheap esomeprazole 20mg – anexa mate oral nexium 40mg
June 26, 2025bidi5
how to buy warfarin – cou mamide buy cozaar
June 28, 2025oob0t
meloxicam buy online – tenderness order meloxicam online cheap
June 30, 2025xkzje
oral deltasone 10mg – https://apreplson.com/ buy deltasone 5mg pill
July 2, 20255xjuc
erection pills – https://fastedtotake.com/ top ed pills
July 3, 2025w2tkq
amoxicillin tablets – buy amoxicillin pill purchase amoxil online
July 4, 20258zy4c
buy diflucan 200mg for sale – order diflucan 200mg online cheap fluconazole us
July 9, 2025pv1jc
generic escitalopram 20mg – on this site lexapro 10mg price
July 10, 20252c90c
cenforce cheap – https://cenforcers.com/ purchase cenforce
July 11, 2025