Abu Dhabi – Mubasher: Sharjah Group on Sunday announced that its ordinary general meeting (OGM) approved the distribution of 7 fils per share, representing 7% of the company’s capital for 2017.

The total value of the suggested distribution amounts to AED 5.523 million, Sharjah Group said in a filing to the Abu Dhabi Securities Exchange (ADX).

Dividends for 2017 are 75% higher than those approved for 2016.

Sharjah Group last reported a 9.2% decline in net profits to AED 12.05 in the fourth quarter of 2017 from AED 13.27 million in the year-ago period.

For the full year 2017, the Abu Dhabi-listed group recorded AED 18.8 million in profit, down 4% from AED 19.66 million in 2016.