Sharjah24 – WAM: Dubai Electricity and Water Authority (DEWA) received a cash dividend of AED 2.03 billion from its 70% subsidiary, Emirates Central Cooling Systems Corporation (EMPOWER).
“As a result of the cash dividend received by DEWA from EMPOWER, DEWA intends to obtain all necessary approvals to make a one-time special dividend payment to its shareholders. The timing and size of the special dividend are being studied. This one-time special dividend is intended to be an additional payment to shareholders over DEWA’s stated annual policy of paying AED 6.2 billion in dividends, ”said Saeed Mohammed Al Tayer, MD and CEO of DEWA.
“DEWA and its operating portfolio of companies have made excellent progress in 2022, delivering on their promise to drive sustainable business growth while supporting the Emirate of Dubai, maintaining record operational performance, providing our customers with cutting-edge solutions. digitally savvy and maximizing returns for our shareholders. We intend to continue looking for ways to maximize total returns for our shareholders and our intention to make a special one-time dividend payment to our shareholders supports this goal, “said Al Tayer. .
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