DEWA approves payment of $1.3bln in dividends to shareholders

DEWA approves payment of $1.3bln in dividends to shareholders

Dubai Electricity and Water Authority PJSC, which is listed on the Dubai Financial Market (DFM), today reported that its shareholders approved the payment of total dividends of AED 4.77 billion with a record date of 20th April 2023.

This approval came during DEWA’s general assembly, which was held today at the Address Boulevard Hotel Dubai as well as virtually.

The meeting, chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of DEWA, was attended by Saeed Mohammed Al Tayer, MD and CEO of DEWA and Members of the Board of Directors of DEWA as well as 91 percent of the shareholders.

For shareholders who invested in DEWA’s shares prior to the dividend record date of 20th April, 2023, (with a Last Entitlement Date of 18th April 2023), the next twelve-month dividend yield is at 6.3 percent, considering an IPO share price of AED 2.48 per share. Given a two-day settlement time frame, shareholders must be on DEWA’s share register by the last entitlement date of 18th April 2023.

Matar Humaid Al Tayer, Chairman of the Board of Directors of DEWA, said, “Thanks to the insightful vision and directives of the wise leadership of President His Highness Sheikh Mohamed bin Zayed Al