UAE markets Tuesday 21 March 2007Emaar shares went ex-dividend today and the fall was less than the expected adjustment. Meanwhile, shareholders now have to wait for Emaar to disclose details on the Dubai Holding deal which make a more tangible statement than the Chairman simply saying the deal would be good for investors. Both ADSM and DFM rose slightly today although Aabar petroleum took a bit of a hit. |
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AGMs and EGMs (E&OE) this week
- ADCB AGM Sun 18 Mar 2007 - 30.25% dividend approved
- ASCANA AGM 20 Mar 2007 - postponed to 26 Mar 2007
- AWNIC AGM 20 Mar 2007 - 10% cash dividend approved, record date 27 Mar 2007?
- DNIR AGM 19 Mar 2007 - 30% cash dividend approved, Record Date 27 Mar 2007
- EIB AGM 20 Mar 2007 results 15% share dividend, record date 27 Mar 2007 (not confirmed)
- JULPHAR Tue 20 Mar 2007 - 10% cash dividend approved, record date 29 Mar 2007?
- MAZAYA AGM Wed 21 Mar 2007 - 10% share & 50% cash dividends proposed. Perhaps.
- NBD Tue 20 Mar 2007 - 40% cash & 20% share dividend proposed
- PALTEL AGM 25 Mar 2007 - 20% cash dividend proposed
- RAKPROP Thu 22 Mar 2007 - 7.5% cash dividend proposed
- RAKWCT AGM 21 Mar 2007 - 15% cash dividend proposed, AGM postponed to 28 Mar 2007.
- SALAM AGM 20 Mar 2007 - changed from 11 Mar 2007, 10% cash dividend proposed
- SICO AGM 20 Mar 2007 - 20% cash dividend approved, record date 26 Mar 2007?
- SOROUH AGM Sun 18 Mar 2007 - postponed to 25 Mar 2007
- TABREED AGM Tue 20 Mar 2007 - lack of quorum, postponed to 27 Mar 2007
- TKFL AGM Wed 14 Mar 2007 - postponed to 21 Mar 2007 due to lack of quorum
Dividend Record Dates - last trading day two days before (E&OE)
- ALLIANCE record date 25 Mar 2007
- BILDCO 19 Mar 2007
- EIC Record Date 20 Mar 2007
- EMAAR 22 Mar 2007
- NBAD Record Date 22 Mar 2007
- NCC - National Cement Company Record Date 20 Mar 2007
- SALAM Record Date 20 Mar 2007 - not confirmed
- SCIDC Record Date 21 Mar 2007
UAE market news & discussions for 21 March 2007
- ARTC AGM 09 Apr 2007 and record date
- ASCANA 2006 audited financial statements - 21 Mar 2007
- AWNIC - Al Wathba Insurance AGM 20 Mar 2007 10% cash dividend approved
- EBI-NBD merger - no job losses expected - GN 21 Mar 2007
- EIB AGM 20 Mar 2007 results 15% share dividend, record date 27 Mar 2007 (not confirmed)
- Emaar ex-dividend today 21 Mar 2007
- EMAAR - Galeries Lafayette will open in Dubai Mall - PR 20 Mar 2007
- EMAAR - Fitch affirms Dubai Holding's DHCOG rating after Emaar deal - PR 21 Mar 07
- EMAAR shares drag the DFM to new lows - more comments and opinion
- EMAAR concern about leaks prompted early release of news about Dubai Holding deal
- FBICO audited final results 21 Mar 2007
- GCC currency union doubtful for 2010 according to analysts - R 21 Mar 2007
- GGICO - share buyback cancellation approved by ESCA 21 Mar 2007
- JULPHAR AGM 20 Mar 2007 10% cash dividend approved - record date 29 Mar 2007
- KHI Kingdom Hotel Investments 2006 FY profit AED 157m - GN 21 Mar 2007 (company listed on DIFX)
- Mashreq Securities opens third VIP lounge in Sharjah - PR 20 Mar 2007
- MashreqBank shares in shareholder accounts 21 Mar 2007
- MAZAYA AGM and EGM and share trading suspended 21 Mar 2007
- Millenium Funds to start up with energy investments - R 20 Mar 2007 - a DIB subsidiary. Are Aabar buying in to the fund or are the fund going to buy Aabar shares?
- NBD AGM approves 40% cash and 20% share dividend - KT 21 Mar 2007 - last trading day for dividends 27 Mar 2007 and Record Date 29 Mar 2007.
- NIND AGM & EGM on 04 Apr 2007 - proposed dividends might be 10% share and 70% cash.
- NMDC BOD meeting 22 Mar 2007
- RAKWCT RAK White Cement AGM postponed to 28 Mar 2007
- Saudi insurance IPOs - three covered already in 3 days - R 21 Mar 2007, IAIC's Saudi subsidiary included.
- SALAM AGM results - 10% dividend probably approved
- SHOP AGM & EGM on 11 Apr 2007
- SICO - Sharjah Insurance Company AGM approves 20% cash dividend - 21 Mar 2007
- Tabreed AGM postponed to 27 Mar 2007
- WARE Agility BOD meeting 29 Mar 2007
- NBD 2006 FY AED 1.1 bn almost same as 2005 - 31 Jan 2007
- WARE Agility 2006 FY results not submitted, trading suspended - 15 Mar 07
- GGICO share buyback cancelled - DFM 12 Mar 2007
- ARTC 2006 FY profit AED 217m up 30% from 2005 - GN 22 Jan 2007
- MASQ 2006 FY profit AED 1.6 bn -10% from 2005 - PR 31 Jan 2007
- MAZAYA 2006 FY 302m dhs +72% from 2005 - BOD meeting 05 Feb 2007
- ALLIANCE 2006 FY results out 29 Jan 2007
- ASCANA 2006 FY profit AED 9.3m -93% from 2005 - 01 Feb 2007
- EIB 2006 FY profit AED 117m +129% in 2005, BOD meeting on 23 Jan 2007
- NIND 2006 FY AED 1.7 bn -28.8% from 2005 - BOD meeting 10 Feb 2007 at 12:30.
- SALAM 2006 FY results 30 Jan 07? Not checked yet. BOD meeting 29 Jan 2007
- SHOP 2006 FY results released after - BOD meeting 05 Feb 2007?
- TABREED and ALDAR form AED 2.9 bn JV - A&T Cool - PR 20 Mar 07
- ADCB in AED 460m deal to finance Hyderabad Airport expansion R 20 Mar 07
- RAKWCT 2006 FY profit AED 68m -38% from 2005 - 29 Jan 2007
- FBICO 2005 FY profit AED 20.8m +88% from 2005 - late - 26 Feb 2007
- NMDC 2006 FY loss AED 71m -158% from 2005
- JULPHAR 2006 FY profit AED 67m -43% from 2005
- AWNIC 2006 FY profit AED 41m down 32% from 2005 - 22 Jan 2007
- SICO 2006 FY results 20 Jan 07 (not checked) - Board meeting 07 Feb 2007
- TABREED 2006 FY profit +104% to AED 104m - 04 Feb 2007
- Stock Picks by Technical Analysis March 2007
- EMAAR - Tanaro residences sales begin 24 March 2007 - PR 21 Mar 2007
- IPOs in the Middle East 2006 and other financing - JT 21 Mar 2007
- Dubai Properties presents Culture Village and other projects at MIPIM
More UAE stock market news and discussions..
Dubai and Abu Dhabi stock market report 21 March 2007
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Dubai Financial Market
The DFMGI was up by 0.5% to 3825 on trading volume of 743m dhs. Most stocks rose with DFM and Emirates Integrated Telecommunications Company (DU) both up 3% on healthy volumes. Islamic Arab Insurance Company PSC (IAIC), GULFNAV and AMAN were all up about 2% each, while Amlak Finance Company (AMLAK) and Aramex PJSC (ARMX) rose 1.5% each. National Bank of Dubai (NBD) topped the list of rises on more than trivial volumes, up by 4.8% to 10.95.
As Emaar Properties PJSC (EMAAR) shares were ex-dividend today, they should have adjusted by about 1.8% downwards, so the 1.3% fall could be seen as relatively good news - the difference of +0.5% between expected and actual change in line with the +0.5% change in the DFMGI today.
DIB, Dubai Investments PJSC (DIC), Shuaa Capital PJSC (SHUAA), Tamweel PJSC (TAMWEEL), Union Properties PJSC (UPP) all fell 1% or less.
Abu Dhabi Securities Market
The ADSM index rose just 0.13% to 3012 points on moderate volume of just under 200m dhs worth of trading.
There were few significant rises, Oasis International Leasing Company PJSC (OILC) was up 1.2%, Sharjah Cement & Industrial Development Company (SCIDC) up 1.5%, and Sudan Telecom Company Ltd (SUDATEL) up 1.8%. Other stocks rose less than 1% or on trivial volumes. Sorouh Real Estate (SOROUH) was one of the more heavily traded stocks today - 28m dhs going through but only a 0.35% rise.
Aabar Petroleum Investments Company PJSC (AABAR) shares got a bit of a hammering after yesterday's 5%
cash dividend proposal. Shares were down 4.6% to 2.29 on a hefty 50m dhs worth of trading - a quarter of the total for ADSM today. Abu Dhabi National Company for Building Materials (BILDCO) continued to fall after going ex-dividend yesterday, down by another 3% on moderate volumes.
NBS was down by 1.5%, Abu Dhabi National Energy Company (TAQA) down 1.9% and Union National Bank (UNB) down by 2.3% on higher than normal volumes (usually very little). Other falls from low volumes or less than 1%. Or both.
National Bank of Abu Dhabi (NBAD) went ex-dividend today but there was no trading in their shares.
- Discuss and read UAE company news at Dubai Share Talk.
