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TAQA could pay AED 5.3bn dividends for 2021

TAQA could pay AED 5.3bn dividends for 2021
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TAQA
TAQA
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Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) is expected to pay a cash dividend of 4.75 fils per share at a total value of AED 5.30 billion for 2021, according to a bourse disclosure on Wednesday.

This amount could be reached after TAQA proposes to its shareholders a special cash dividend payment of 2 fils a share at a total value of AED 2.20 billion. The final decision should be taken during the general assembly meeting on 15 March.

This will be in addition to the final payment of 1.10 fils per share totalling AED 1.20 billion, besides the 1.65 fils per share at a total of AED 1.90 billion already distributed in quarterly dividends.

The Abu Dhabi-listed firm noted that the expected dividend payment for 2021 exceeds the estimated payment outlined in TAQA’s dividend policy, adding that this increase reflects the strong financial performance in 2021.

The company reported its consolidated financial results for 2021 last February, with net income reaching AED 6 billion. TAQA’s utilities business as well as the strong recovery in commodity prices have both endorsed the financial results.