Dewa distributes cash dividends of AED3.1bn for H1

Dewa distributes cash dividends of AED3.1bn for H1

Local News, News















Dubai / WAM

Shareholders of Dubai Electricity and Water Authority (Dewa) PJSC, the emirate of Dubai’s exclusive electricity and water services provider, listed on the Dubai Financial Market (DFM), have approved the items on the company’s first general assembly agenda.

The meeting, chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of Dewa, was attended by Saeed Mohammed Al Tayer, MD & CEO of Dewa and Members of the Board of Directors of Dewa as well as 90.19% of the shareholders.

The assembly voted on the recommendation of the Board of Directors concerning a cash dividend distribution of AED3.1 billion (6.2 fils per share) for the first half of 2022.

This is intended to be paid to the company’s eligible shareholders in October 2022. The assembly also voted on the recommendation of the Board of Directors to suspend any further allocation of profit towards legal reserve, considering the company’s legal reserve is currently in excess of 50 percent of its paid-up share capital.

Matar Humaid Al Tayer, Chairman of Dewa, praised the insightful vision and wise directives of His Highness Sheikh Mohammed bin Rashid Al