What you need to know as UAE markets open on March 7

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

1) Emaar Properties board has proposed cash dividend of 15 percent, equivalent to AED 0.15 per share, for 2016 – the same as the previous year.

2) Dubai-listed Air Arabia’s shareholders have approved 7 percent cash dividend. The entitlement date is March 13 and the stock goes ex-dividend on March 14.

3) Mashreq Bank’s proposal for 40 percent cash dividend was approved at its annual general assembly meeting on Monday.

4) The board of directors of Abu Dhabi National Takaful Co. has proposed 16 percent cash dividend, equivalent to AED 0.16 per share.

5) Reuters has reported that Abu Dhabi Islamic Bank is considering whether to make a US dollar-denominated sukuk issue over the next few months. The lender later issued a statement denying the news. 

6) Oil held steady on Tuesday, with Brent crude last down 0.1 percent at $55.96/bbl and WTI crude slipped slightly to 53.19/bbl.

7) Asian stocks were mainly lower towards closing hours. Japan's Nikkei 225 Index was last down 0.2 percent and China's CSI 300 Index fell 0.1 percent. 

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