DEWA pleases shareholders with Dh9.9 billion dividend for 2022

DEWA pleases shareholders with Dh9.9 billion dividend for 2022

Dubai: It sure is paying off for DEWA shareholders to hold on to their stocks, after the Dubai utility giant announced a further one-off dividend of Dh1.67 billion late on Wednesday (February 8). That adds up to a staggering Dh9.9 billion what shareholders will be getting for the year – not just that, the total represents a 60 per cent increase on the ‘minimum’ annual dividend policy confirmed at the time of its IPO in April last. Then, in December, DEWA announced a special dividend of Dh2.03 billion (which was what Empower, the Dubai district cooling company, paid it ahead of its own IPO in November.) “The latest additional payout will take the DEWA dividend yield to over 8 per cent – and that’s easily the highest from any listed UAE company for 2022 from all the results announced to date,” said Sameer Lakhani, Managing Director at Global Capital Partners. “Apart from its own operational results, DEWA is also rewarding shareholders from the gains made through its majority holding in Empower. “Yes, the 8 per cent plus yield was generated by two ‘one-off events’ relating to the Empower IPO and dividend. The bottom-line for DEWA shareholders is that these are