Tabreed unveils higher cash dividends for 2023

Tabreed unveils higher cash dividends for 2023

Dubai – Mubasher: National Central Cooling Company (Tabreed) has announced a record-high dividend payment of 15.50 fils per share for 2023, according to a press release.

This represents an increase of 15% over the previous year, reflecting Tabreed’s strong financial performance.

In 2023, the DFM-listed company witnessed an annual growth of 9% in revenue and an increase of 25% in net profit before tax to parents.

Khaled Abdullah Al Qubaisi, Chairman of Tabreed, said: “As more countries turn their attention to ever-increasing demands for cooling, realising too that they must act to mitigate climate change, district cooling is an obvious and well-established solution.”

The board members of Tabreed proposed cash dividends valued at AED 441.01 million for the financial year that ended on 31 December 2023.

Tabreed unveils higher cash dividends for 2023