Shareholders of Dubai's Emaar Properties have approved the proposed cash dividend for 2015 at its annual general meeting despite a call from some to hike the payout.

The developer, in which Dubai's government owns a minority stake, had proposed paying a cash dividend of 15 percent, equivalent to Dh0.15 ($0.04) per share. However, there was a call from the floor of the meeting from some shareholders to increase the payout to 20 percent.

The increased payout was rejected when put to a full shareholder vote.  - Reuters