Arabtec Holding, the largest United Arab Emirates construction firm by market value, said it was proposing to pay investors a 50 per cent cash dividend for 2007.

The shareholders will vote on the dividend at a meeting on March 24, Arabtec said in a statement after a board meeting.

Arabtec made its second-biggest quarterly profit on record in the fourth quarter as profit margins improved and it expanded regionally.

In 2006, Arabtec had paid a 15 percent cash dividend and offered investors 15 free shares for every 100 held.-Reuters