Tabreed’s shareholders approve another record dividend of 13.5 fils per share for 2022

Tabreed’s shareholders approve another record dividend of 13.5 fils per share for 2022

DUBAI, 21st March, 2023 (WAM) -- The shareholders of Tabreed, the UAE’s leading district cooling company, have approved a cash dividend payment of 13.5 fils per share for 2022. This represents the highest dividend payment to Tabreed shareholders in the company’s 25-year history and marks an increase of 1.5 fils per share on the 12 fils per share equivalent paid to shareholders in 2022.

The record dividend was formally approved at Tabreed’s Annual General Assembly (AGA), chaired by Chairman Khaled Abdullah Al Qubaisi, on Monday, 20th March 2023. Tabreed also used the AGA to elect its board of directors in accordance with the three-year requirement set out in SCA regulations. Eight of the existing board members have been re-elected and shareholders confirmed the appointment of one new board member, Dr Alyazia Ali Al Kuwaiti, to the Board of Directors.

Reflecting on an exceptional year for the company, Al Qubaisi said, “As the UAE prepares to host COP28, Tabreed continues to build on its successful track record of delivering energy efficient and environmentally friendly district cooling solutions for customers, supporting their energy sustainability goals. We are proud of our ongoing partnership with customers to reduce energy consumption and carbon dioxide emissions and advance