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DEWA to pay one-time special dividend

Monday, 24 October 2022 20:32

By ARN News Staff

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Dubai Electricity and Water Authority (DEWA) has announced plans to make a one-time special dividend payment to its shareholders.

It comes as the utility services provider received a cash dividend of AED 2.03 billion from its 70 per cent owned subsidiary, Emirates Central Cooling Systems Corporation (Empower).

"DEWA intends to seek all necessary approvals to make a one-time special dividend payment to its shareholders. The timing and size of the special dividend are under study," said Saeed Mohammed Al Tayer, MD & CEO of DEWA.

"This one-time special dividend is intended to be an additional payment to shareholders over DEWA’s stated annual dividend policy of paying AED 6.2 billion in dividends," he added.

Al Tayer pointed out that 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 customers with digitally savvy cutting edge solutions and maximising returns for shareholders.

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