DEWA’s second general assembly to vote on one-time Dh2.03b cash dividend for shareholders

DEWA’s second general assembly to vote on one-time Dh2.03b cash dividend for shareholders

Dubai’s utility giant Dubai Electricity and Water Authority’s PJSC (DEWA), listed on the Dubai Financial Market (DFM), has confirmed the Company’s second general assembly meeting will be held physically and virtually today (Monday, December 12). The Assembly will vote on the recommendation of the Board of Directors to distribute a special one-time cash dividend of Dh2.03 billion to its shareholders. If approved, the Dividend Record Date has been set for December 22, the authority confirmed. Shareholders should receive dividend proceeds shortly thereafter. Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, said that for the year 2022, DEWA intends to pay its shareholders a total dividend of Dh8.23 billion. On October 26, it paid Dh3.1 billion in dividends for the first half of 2022. DEWA intends to pay a special one-time dividend payment of Dh2.03 billion (4.06 fils per share) to its shareholders and in April 2023, DEWA will pay Dh3.1 billion to its shareholders for the second half of 2022. “Details of the second general assembly meeting will be sent by e-mail and by text messages to the shareholders,” said the authority in a public announcement. Dubai Electricity and Water Authority reported revenues of Dh12.08 billion and net