Mubasher TV
Contact Us Advertising   العربية

UAE's Taqa to freeze FY14 dividends

UAE's Taqa to freeze FY14 dividends
Photo Archive
TAQA
TAQA
2.40% 3.41 0.08

By Ramy Samih

Abu Dhabi – Mubasher: Shareholders of UAE’s leading energy firm Taqa approved on Sunday withholding dividends for the fiscal year 2014.

The Abu Dhabi-listed firm earlier logged AED 2.3 billion losses in FY14, an increase of 29.5% compared with AED 1.77 billion losses a year earlier, which was ascribed to the slump in crude prices.

Taqa, which is 75%-owned by the Abu Dhabi government and operates with capital of more than AED 6 billion, has a market value of over AED 4.5 billion of its shares on the Abu Dhabi market.

Translated by Sayed Abdel Rahman