DEWA approves AED 3.1bn in dividends for H1 2023

Dubai [UAE], October 24 (ANI/WAM): Dubai Electricity and Water Authority PJSC (DEWA), the Emirate of Dubai's exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), reported that it will pay its shareholders a dividend of AED 3.1 billion or 6.2 fils per share for the first half of 2023 and this is based on a record date of October 18, 2023.
On April 10, 2023, DEWA's shareholders authorised and delegated the Board of Directors of DEWA to pay a cash dividend of AED 3.1 billion (6.2 fils per share) for the first half of 2023 in October 2023. The Board of Directors of DEWA authorised the payment of H1 2023 dividend on August 10, 2023, with a record date of October 18, 2023.
On October 26, 2023, the dividend will be paid to all shareholders via Dubai CSD.
"We continue to make great progress in the execution of our strategy which is focused on delivering sustainable growth, staying at the forefront of smart and innovative operational excellence, and optimising returns for all our stakeholders while minimising our environmental footprint. We intend to continue to deliver on our growth trajectory, delivering robust cash generation, a strong balance sheet and exceptional returns to shareholders," said Saeed Mohammed Al Tayer, MD and CEO of DEWA.
"For our shareholders, this means that DEWA's strategy is focused on ensuring consistency of returns, durability of growth, and compounding our growth value over time. This forms the basis of our core value proposition to our shareholders," Al Tayer added. (ANI/WAM)