Abu Dhabi’s Taqa is latest to issue H1-dividends, with Dh731m

Abu Dhabi’s Taqa is latest to issue H1-dividends, with Dh731m

Taqa recorded lower realisations from its oil and gas division during first-half 2023, as lower energy prices and production weighed on the numbers.

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Dubai: ADX-listed utility player Taqa has become the latest to offer a handsome dividend for its first-half 2023 performance, confirming Dh731 million after net income totalled Dh13.5 billion.



The income includes a one-off gain of Dh9.2 billion, after Dh10.8 billion was recognised from the acquisition of a 5 per cent shareholding in ADNOC Gas, the Abu Dhabi entity that recent went for an IPO. (On a per share basis, the dividend works out to 0.65 fils)







Last week, DEWA and Salik confirmed there will be shareholder payouts of their own. 



Taqa revenues in H1-23 came to Dh26.8 billion, up 5 per cent, but the adjusted EBITDA came in lower by 7 per cent to Dh10.5 billion. This was brought on by lower contribution from the oil and gas division, which saw lower ‘realised prices and reduced production’.



Overall, the period saw Taqa expand its out-of-the-UAE footprint, in Uzbekistan and the UK.









Dh61.7b

Taqa's gross debt, billion, which has remained