​Abu Dhabi, April 5 (IANS/WAM) Abu Dhabi-based investment company Reem Investments has announced a net profit of $57.4 million for the financial year 2015.

The company's board of directors approved the 12 percent cash dividend -- an increase of 20 percent over the 2014 dividend.

Abdulhamid Saeed, managing director of Reem Investments, said: "During 2015, when oil prices and UAE equities were down, the investment portfolio made an effective contribution to the net profit."

"The company is also in advanced stages in commencing new development projects that will boost its recurring revenue stream," he said.​