For a second day in a row, the Dubai mega-developer’s stock hits the 15% limit.
Dubai: Emaar Properties has done it again—hitting the 15% trading limit on the Dubai Financial Market (DFM) for the second consecutive day. This follows the company’s announcement that it will double its 2024 dividend payout, prompting investors to back the Dubai-based master developer in a big way.
- As of 12:05 p.m. today, Emaar’s share price was at Dh12.65, up Dh1.65.
- Trading volumes reached nearly 80 million shares, with a total value of Dh1.02 billion.
Over the past two days, the stock has risen by more than 30%, largely driven by Emaar’s confirmation that 2024’s total dividend payout will be Dh8.8 billion, doubling last year’s Dh4.4 billion (which had been Dh0.50 per share).
Analysts caution that after such a sharp surge, profit-taking could follow. “These are abnormal gains driving volumes and the Emaar stock price,” said one analyst. “Some profit-taking should be on the cards.”
Emaar’s share price has climbed nearly 68% over the last 12 months, placing it among the top performers on DFM.
Emaar Development sees early dip, then rebounds
Meanwhile, Emaar Development—focused on the Dubai market—opened in the red but later switched direction. By around 12:30 p.m., it was trading 1.09% higher at Dh13.8. As of 12:42 p.m., the stock saw a trading volume of 12.56 million shares, with a total value of Dh169.2 million.
