Dubai – Mubasher: The net profits attributable to the owners of Dubai Electricity and Water Authority (DEWA) amounted to AED 6.23 billion in the first nine months (9M) of 2022, versus AED 5.01 billion in 9M-21.

Revenues totalled AED 20.62 billion during January-September 2022, higher than AED 17.95 billion in the year-ago period, according to the income statements.

The basic and diluted earnings per share (EPS) rose to AED 0.12 in 9M-22 from AED 0.10 in 9M-21.

In the third quarter (Q3) of 2022, the net profits attributable to the shareholders enlarged to AED 3.08 billion, compared to AED 2.74 billion during the same period in 2021.

The revenues increased to AED 8.55 billion in Q3-22 from AED 7.41 billion in Q3-21, while the basic and diluted EPS edged up to AED 0.06 from AED 0.05.

Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, commented: “We have made sustained progress towards unlocking shareholder value by paying our H1-22 dividend of AED 3.10 billion in October 2022, by announcing the intention to float our 70% owned subsidiary EMPOWER and by recommending the payment of a one-time special dividend of AED 2.03 billion to be paid to our shareholders in December.”

Al Tayer added: “For 2022, we expect to return AED 8.23 billion in dividends to our shareholders.”

In 6M-22, DEWA witnessed an annual hike in net profit attributable to the equityholders to AED 3.14 billion, compared to AED 2.27 billion.