Dewa Shareholders Approve Dh3.1 Billion Dividend Payment and Record-Breaking Achievements

UAE, 29 March, 2024 : Dubai Electricity and Water Authority (Dewa) shareholders have approved the payment of a total dividend of Dh3.1 billion, with a record date set for April 8, 2024. The general assembly, chaired by Matar Humaid Al Tayer, witnessed attendance from 85.9% of shareholders, including Saeed Mohammed Al Tayer, MD and CEO of Dewa, and board members. For shareholders invested in Dewa's shares before the dividend record date of April 8, 2024, the next twelve-month dividend yield is 5.0% based on the IPO share price of Dh2.48 per share.

Matar Humaid Al Tayer, Chairman of Dewa, emphasized Dewa's vital role in ensuring Dubai's infrastructure keeps pace with energy and water demands. He highlighted Dewa's focus on sustainable growth, innovation, and minimizing environmental impact while optimizing returns for stakeholders.

Saeed Mohammed Al Tayer, Dewa's MD and CEO, underscored the company's commitment to operational excellence and sustainable growth. In 2023, Dewa achieved record-breaking annual revenue, operating profit, and EBITDA, reflecting its highest figures to date. Notably, Dewa also recorded milestones in clean energy generation, water production, and emissions reduction. Al Tayer expressed optimism about Dewa's outlook for 2024, citing promising indicators such as tourism growth, increased demand for services, and a rising population in Dubai, which present opportunities for further business expansion.

Source : www.khaleejtimes.com