UAE Business: Empower approves $136m dividend for 2021 – Gulf Digital News

UAE Business: Empower approves $136m dividend for 2021 – Gulf Digital News

Emirates Central Cooling Systems Corporation (Empower), the world's largest district cooling services provider, has announced a dividend of AED500 million ($136 million) to its shareholders for the fiscal year ending on December 31, 2021.



The dividend payout represents 53.4% of the AED936 million, the total net profit achieved by Empower for the last fiscal year that increased by 4% compared to 2020. The company has also reported an impressive total revenue of AED2.464 billion in the same year, with an increase of 9.3% compared to 2020. The total dividends to shareholders amounted to AED3.15 billion since its inception in 2004, the company said.



Ahmad bin Shafar, CEO of Empower, said: "Empower's performance and its financial results in general, and the profits achieved in particular, reflect its outstanding leadership in the district cooling industry locally and globally. At the same time, it highlights the effectiveness of its proactive strategy to maximize its investments in district cooling infrastructure by developing assets that guarantee sustainable revenues on one hand and higher flexibility to keep pace with the increasing demand on the other hand."



Bin Shafar affirmed Empower's commitment to offering added values to Dubai's economy, company's shareholders and