Dubai – Mubasher: Emirates Central Cooling Systems Corporation (Empower) announced cash dividends of AED 425 million for the second half (H2) of 2023, according to a press release.

Empower will disburse AED 0.04 per share, equivalent to 42.50% of the company's paid-up capital.

The shareholders greenlighted the board’s dividends proposal during the annual general meeting that was held on 27 March 2024.

The dividend distribution aligns with Empower’s policy to pay a minimum dividend amount of AED 850 million annually in the first two fiscal years following its listing on the DFM.

The company’s financial results for the year ended on 31 December 2023 showed the highest-ever revenue of AED 3.03 billion, with net profit amounting to AED 960 million.

Last October, Empower paid a total of AED 425 million as cash dividends for H1-23.