22-Mar-2011 3:43 PM
Air Arabia announces dividend payment
Analysis
Air Arabia's annual general meeting approved the proposal by the company's board for an 8% cash dividend. The carrier reported a 2010 net profit of AED309.6 million (USD80.2 million). Shares in Air Arabia were up 3.2% on Monday.
Summary
- Air Arabia's annual general meeting approves an 8% cash dividend proposal.
- Air Arabia reports a net profit of AED309.6 million in 2010.
- Shares in Air Arabia increase by 3.2% following the announcement.
- Royal Jordanian experiences a 4.3% decrease in share price.
- Lonrho's share price increases by 1.6%.
- Limited share movements observed for other Middle East and North African listed carriers.
The only other major share movements for Middle East and North African listed carriers were Royal Jordanian, which lost 4.3%, and Lonrho, up 1.6%.
Selected MEAAD daily share price movements (% change): 21-Mar-2011
