What you need to know as UAE markets open on March 27

Here are some things you need to know as markets open today in the United Arab Emirates.

1) Dubai-listed Union Properties’ board has recommended bonus share dividend of 8 percent of the share capital, equivalent to 8 shares for every 100.

2) Abu Dhabi-listed National Bank of Fujairah shareholders have approved cash dividends of 7.5 percent (AED 95.3 million) and bonus shares of 7.5 percent (AED 95.3 million) of paid-up capital for 2016.

3) Shareholders of DFM-listed Unikai Foods have approved the proposal for 10 percent cash dividend (AED 0.1 per share) and 7 percent bonus shares (7 shares per 100) for the year 2016.

4) Dubai Refreshment shareholders have approved cash dividend of 70 percent for 2016, equivalent to AED 0.7 per share.

5) Abu Dhabi-listed Emirates Driving Co. shareholders amended 2016 cash dividend to 60 percent (AED 0.6 per share), instead of 30 percent recommended by the board.

6) Consolidated profit of cement companies in the UAE declined by 35 percent to AED 353.8 million in 2016, compared to AED 543 million in 2015, Argaam data revealed.

7) Crude oil prices dipped on Monday as an increase in US rig count offset OPEC’s talks of a possible extension of the six-month output cap deal. Brent crude was last down 0.1 percent at $50.74/bbl and WTI fell 0.3 percent to $47.82/bbl.

8) Asian stocks were mainly lower towards closing hours. Japan’s Nikkei225 Index was down nearly 1.5 percent and Hong Kong’s Hang Seng Index lost 0.3 percent. China's CSI300 Index was flat with a negative bias.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com