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DEWA to pay cash dividends worth AED 4.77bn

DEWA to pay cash dividends worth AED 4.77bn
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DEWA
DEWA
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Dubai – Mubasher: The annual general meeting (AGM) of Dubai Electricity and Water Authority (DEWA) passed the distribution of AED 4.77 billion in total cash dividends on 10 April 2023, according to a press release.

The announced dividends include a one-time special dividend of AED 1.67 billion, equivalent to 3.34 fils per share. This is in addition to dividends worth AED 3.10 billion, amounting to 6.20 per share, for the second half (H2) of 2022.

Meanwhile, the last entitlement and record dates will be 18 and 20 April 2023.

Matar Humaid Al Tayer, Chairman of DEWA, said: “In 2022, DEWA delivered the best full-year consolidated and standalone financial performance in its operating history.”

Al Tayer noted: “As a result, we have increased our dividend payout for the year 2022 by 60% to AED 9.90 billion.”

“Our circular economy strategy supports the ongoing efforts to optimise resource usage and enhance social, economic, and environmental value, promoting sustainability. We have adopted several policies and plans that align with ambitious national strategies,” he concluded.

Last year, DEWA posted consolidated net profits worth AED 7.96 billion, up 22% from AED 6.55 billion in 2021.