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TAQA’s profits exceed AED 4bn in H1-22; dividends announced for Q2

TAQA’s profits exceed AED 4bn in H1-22; dividends announced for Q2
TAQA
TAQA
5.83% 2.54 0.14

Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) generated net profits attributable to the equityholders worth AED 4.28 billion during the first half (H1) of 2022, a leap from AED 2.85 billion in H1-21.

TAQA posted a 15% year-on-year (YoY) growth in revenue to AED 25.42 billion in H1-22, compared to AED 22.19 billion, according to the income statements.

The basic and diluted earnings per share (EPS) rose to AED 0.04 in H1-22 from AED 0.03 in H1-21.

During the second quarter (Q2) of 2022, the net profits attributable to the equityholders jumped to AED 2.31 billion from AED 1.42 billion in Q2-21.

Meanwhile, the revenues totalled AED 13.01 billion in April-June 2022, up from AED 11.86 billion in the year-ago period. The basic and diluted EPS stood at AED 0.02 in Q2-22, versus AED 0.01 in Q2-21.

In a separate bourse disclosure, the UAE-based firm’s board agreed to distribute an interim cash dividend of 0.60 fils per share for Q2-22.

TAQA will be paying approximately AED 675 million as Q2-22 dividends on 29 August.

In the January-March 2022 period, TAQA achieved net profits attributable to the shareholders worth AED 1.97 billion, an annual hike of 37% from AED 1.43 billion.