Empower AGM approves AED 425 million dividends to shareholders

Empower AGM approves AED 425 million dividends to shareholders

Saeed Mohammed Al Tayer, chairman of Empower, chaired the AGM that took place on March 27, 2024, at Habtoor Palace, Dubai, and was attended by Ahmad bin Shafar, CEO, and members of the board of directors of Empower. The meeting reviewed the company’s performance and approved the financial statements and the auditor’s report for the financial year ending December 31, 2023. The company’s shareholders also approved the other agenda items presented at the AGM.

The annual general meeting (AGM) of the Emirates Central Cooling Systems Corporation PJSC (Empower), in a meeting convened with a quorum of 90.4% of the company’s paid-up share capital, has approved its board of directors’ proposal to distribute cash dividends of AED 425 million (AED 0.0425 per share equivalent to 42.5% of the company’s paid-up capital) to shareholders for the second half of the year 2023.

Empower was listed in 2022 on the Dubai Financial Market (DFM) under the symbol (EMPOWER) and the International Securities Identification Number (ISIN: AEE01134E227). The company’s financial results for the year ended December 31 2023, showed the highest-ever revenue of AED 3.035 billion, with net profit amounting to AED 960 million. The above dividend distribution is in alignment with the company’s dividend distribution