{"id":7935,"date":"2024-03-30T17:46:12","date_gmt":"2024-03-30T16:46:12","guid":{"rendered":"https:\/\/shams-alyaoum.com\/en\/?p=7935"},"modified":"2024-03-30T17:49:56","modified_gmt":"2024-03-30T16:49:56","slug":"dubai-electricity-and-water-authority-pjsc-shareholders-approve-payment-of-aed-3-1-billion-in-dividends","status":"publish","type":"post","link":"https:\/\/shams-alyaoum.com\/en\/dubai-electricity-and-water-authority-pjsc-shareholders-approve-payment-of-aed-3-1-billion-in-dividends\/","title":{"rendered":"Dubai Electricity and Water Authority PJSC shareholders approve payment of AED 3.1 billion in dividends"},"content":{"rendered":"
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Dubai Electricity and Water Authority PJSC (ISIN:\u00a0AED001801011<\/b>) (Symbol:\u00a0DEWA<\/b>), the Emirate of Dubai\u2019s exclusive electricity and water services provider and majority owner of the largest cooling services provider, which is listed on the Dubai Financial Market (DFM<\/b>), reported that its shareholders have, in the general assembly held on March 28th<\/sup>, 2024,\u00a0 approved the payment of total dividend of AED 3.1 billion with a record date of April 8th<\/sup>, 2024.<\/span><\/p>\n

General Assembly Details<\/span><\/b><\/p>\n

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<\/sup>\u00a0March 2024) at the Kempinski Boulevard Hotel in Dubai as well as virtually.<\/span><\/p>\n

Attractive Dividend Yield<\/span><\/b><\/p>\n

For shareholders who are invested in DEWA\u2019s shares prior to the dividend record date of April 8th<\/sup>, 2024 (with a Last Entitlement Date of April 4th<\/sup>, 2024), the next twelve-month dividend yield is 5.0% with reference to IPO share price of AED 2.48 per share.<\/span><\/p>\n

\u201cThanks 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\u2019s infrastructure keeps pace with the increasing demand for energy and water. Our unwavering efforts have contributed to DEWA\u2019s record of achievements, highlighted the transition to clean energy and established DEWA\u2019s global leadership,\u201d said\u00a0HE\u00a0<\/b><\/span>Matar Al Tayer<\/span><\/b>.<\/span><\/p>\n

\u201cLooking 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\u2019s 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\u201d said\u00a0HE Saeed Al Tayer.<\/b><\/span><\/p>\n

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More information on DEWA\u2019s website:\u00a0https:\/\/www.dewa.gov.ae\/en\/investor-relations<\/a><\/span><\/p>\n

and DFM\u2019s website<\/span><\/p>\n

https:\/\/www.dfm.ae\/en\/issuers\/listed-securities\/securities\/company-profile-page?id=DEWA<\/a><\/span><\/p>\n<\/div>\n

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Contacts<\/h3>\n
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Shaikha Almheiri<\/span><\/b><\/p>\n

Dubai Electricity and Water Authority<\/span><\/p>\n

00971552288228<\/span><\/p>\n

For investor relations, please contact:\u00a0dewainvestors@dewa.gov.ae<\/a><\/span><\/p>\n

For media, please contact:\u00a0media@dewa.gov.ae<\/a><\/span><\/p>\n<\/div>\n<\/div>\n

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