March 18, 2014 / 2:11 PM / 3 years ago

Dubai's Arabtec Q4 net income triples, resumes dividend

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DUBAI, March 18 (Reuters) - Dubai builder Arabtec on Tuesday said its fourth-quarter net profit more than tripled on the back of an increasing backlog of projects and growth in its key United Arab Emirates and Saudi Arabia markets.

The contractor reported a net income of 122 million dirhams ($33.2 million), compared with 32 million dirhams in the corresponding period of 2012.

Arabtec also proposed a 2013 cash dividend of 0.1 dirham per share plus bonus shares worth 30 percent of share capital. The company gave no dividend for 2012. ($1 = 3.6730 UAE Dirhams) (Reporting by David French and Praveen Menon; Editing by Andrew Torchia)

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