DEWA Approves AED 3.1B Dividend for H2 2024

Dubai Electricity and Water Authority

DUBAI, United Arab Emirates--BUSINESS WIRE--

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai's exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), reported that its shareholders have, in the general assembly held on 21 March 2025, approved the payment of total dividend of AED 3.1 billion for H2 of 2024, with a record date of 31 March 2025.

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During DEWA's General Assembly </div> <p>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 92.2% of the shareholders. During the meeting, a Board of Directors was elected for the next three years. For shareholders who are invested in DEWA's shares prior to the dividend record date of 31 March 2025 (with a Last Entitlement Date of 27 March 2025), the next twelve-month dividend yield is 5.0% with reference to IPO share price of AED 2.48 per share.</p> <p>

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, said: "DEWA remains steadfast in its commitment to excellence, sustainability and long-term growth. In 2024, DEWA Group delivered another year of strong performance, reporting consolidated full-year revenue of AED 30.98 billion, EBITDA of AED 15.73 billion and net profit after tax of AED 7.23 billion. Our consolidated annual revenue grew by 6.17%, primarily driven by rising demand for electricity, water, and cooling services."

Audited Financials

DEWA's audited financials can be found at DEWA's website: https://www.dewa.gov.ae/en/investor-relations or DFM's website https://www.dfm.ae/en/issuers/listed-securities/securities/company-profile-page?id=DEWA

*Source: AETOSWire

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