Empower approves distributing AED 425 million dividends to shareholders

Empower approves distributing AED 425 million dividends to shareholders

DUBAI, 29th March, 2023 (WAM) -- The General Assembly of Emirates Central Cooling Systems Corporation (Empower), in a meeting convened with a quorum of 86.82 percent of the Company's paid-up share capital, approved the Board's proposal on the distribution of cash dividends to shareholders in a total amount of AED 425 million (AED 0.0425 per share, representing an equivalent to 42.5 percent of the company's paid-up capital).

The dividends are approved for the second half of the year 2022, and are set to be paid to shareholders in the month of April of 2023.

Saeed Mohammed Al Tayer, Chairman of Empower, chaired the General Assembly meeting that took place today, Wednesday, March 29th, at Habtoor Palace, Dubai.

The meeting was attended by Ahmad bin Shafar, Chief Executive Officer and members of the Board of Directors of Empower.

The assembly reviewed the company’s performance, its financial position, and the financial statements for the fiscal year ending December 31st, 2022, were ratified with the auditor's report for 2022 also discussed and approved.

The Company's shareholders approved the General Assembly items. Empower is listed under the symbol (EMPOWER) and the International Securities Identification Number (ISIN:AEE01134E227).

They also voted and approved the recommendation of the Board of Directors regarding the