March 7, 2017 / 4:59 AM / 5 months ago

Dubai's Emaar Properties board proposes 15 pct cash dividend for 2016

DUBAI, March 7 (Reuters) - Dubai's Emaar Properties , the developer of the world's tallest building, has proposed a cash dividend of 15 percent for 2016, it said in a statement on Tuesday.

The developer, in which the government of Dubai has a minority stake, also said it had recorded a net profit of 5.233 billion dirhams ($1.42 billion) for the year ended Dec. 31. ($1 = 3.6724 UAE dirham) (Reporting by Davide Barbuscia; Editing by Gopakumar Warrier)

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