RAK White Cement to pay dividends worth AED25m

UAE-based RAK White Cement has approved the Board’s recommendation to distribute five per cent of capital as cash dividends for the FY17. The company will pay five fils per share to the entitled shareholders, amounting to a total of AED25m (US$6.81m).

RAK’s preliminary financial results for the FY17 show a 27.6 per cent YoY fall in profits to AED30.42m, compared to AED42m of FY16. The company’s capital currently stands at AED500.16m, according to Mubasher.