Dubai Electricity and Water Authority PJSC Shareholders Approve Payment of AED 3.1 Billion in Dividends
March 29 2024 - 8:12AM
Business Wire
Dubai Electricity and Water Authority PJSC (ISIN:
AED001801011) (Symbol: DEWA), the Emirate of Dubai’s
exclusive electricity and water services provider and majority
owner of the largest cooling services provider, which is listed on
the Dubai Financial Market (DFM), reported that its
shareholders have, in the general assembly held on March 28th,
2024, approved the payment of total dividend of AED 3.1 billion
with a record date of April 8th, 2024.
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Dubai Electricity and Water Authority
PJSC shareholders approve payment of AED 3.1 billion in dividends
(Photo: AETOSWire)
General Assembly Details
The meeting, chaired by HE Matar Humaid Al Tayer, Chairman of
the Board of Directors of DEWA, was attended by HE Saeed Mohammed
Al Tayer, MD & CEO of DEWA and Members of the Board of
Directors of DEWA as well as 85.9% of the shareholders. The
assembly was held on Thursday (28th March 2024) at the Kempinski
Boulevard Hotel in Dubai as well as virtually.
Attractive Dividend Yield
For shareholders who are invested in DEWA’s shares prior to the
dividend record date of April 8th, 2024 (with a Last Entitlement
Date of April 4th, 2024), the next twelve-month dividend yield is
5.0% with reference to IPO share price of AED 2.48 per share.
“Thanks to the insightful vision and wise directives of our wise
leadership, Dubai has become a global hub for trade, finance,
tourism, and green economy. DEWA plays a crucial role in ensuring
that Dubai’s infrastructure keeps pace with the increasing demand
for energy and water. Our unwavering efforts have contributed to
DEWA’s record of achievements, highlighted the transition to clean
energy and established DEWA’s global leadership,” said HE Matar
Al Tayer.
“Looking ahead, I am optimistic about our operating and
financial outlook for 2024. The surge in tourism, growth in the
residential and commercial demand for our services and the rising
active day-time population in the Emirate are promising indicators
of further opportunities to grow our business. In 2023, DEWA’s
annual revenue exceeded AED 29 billion, operating profit was over
AED 8.7 billion and EBITDA was over AED 14.7 billion, all figures
reflecting the highest in its history,” said HE Saeed Al
Tayer.
More information on DEWA’s website:
https://www.dewa.gov.ae/en/investor-relations and DFM’s website
https://www.dfm.ae/en/issuers/listed-securities/securities/company-profile-page?id=DEWA
Source: AETOSWire
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Shaikha Almheiri Dubai Electricity and Water Authority
00971552288228 For investor relations, please contact:
dewainvestors@dewa.gov.ae For media, please contact:
media@dewa.gov.ae