Dubai – Mubasher: National Central Cooling Company (Tabreed) has announced a record-high dividend payment of 15.50 fils per share for 2023, according to a press release.

This represents an increase of 15% over the previous year, reflecting Tabreed’s strong financial performance.

In 2023, the DFM-listed company witnessed an annual growth of 9% in revenue and an increase of 25% in net profit before tax to parents.

Khaled Abdullah Al Qubaisi, Chairman of Tabreed, said: “As more countries turn their attention to ever-increasing demands for cooling, realising too that they must act to mitigate climate change, district cooling is an obvious and well-established solution.”

The board members of Tabreed proposed cash dividends valued at AED 441.01 million for the financial year that ended on 31 December 2023.