Dubai – Mubasher: Shareholders of National Central Cooling Co (Tabreed) have approved at the company’s annual general meeting a cash dividend distribution of AED 217.2 million, equalling 8% of the capital, or 8 fils per share for 2017.

Tabreed’s robust performance in 2017 has boosted dividends by 23%, up from the dividend paid out in 2016, the company highlighted in a filing to the Dubai Financial Market (DFM) on Thursday.

Given that the leading cooling utility company in the region’s net profit went up 9% to AED 400.1 million in 2017, from AED 367.4 million a year earlier.

Tabreed’s capital amounts to AED 2715.53 million distributed over about 2715.53 million shares at a par value of AED 1 per share.