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Wednesday, November 6, 2024
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Dewa distributes $1.3 billion cash dividend to shareholders

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DEWA announced that its shareholders have approved the payment of dividends totaling AED 4.77 billion (US$ 1.3 billion), with a registration date of 20 April.

The investors were approved at the Dewa General Assembly held today (April 10) in the presence of Matar Humaid Al Tayer, Chairman of the Dewa Board of Directors, and Saeed Mohammed Al Tayer, Managing Director and Chief Executive Officer, and shareholders.

For shareholders who invested in Dewa shares before the dividend record date (the last authorized date is 18 April 2023), the dividend yield for the next 12 months is 6.3%, taking into account the IPO share price of AED 2.48 per share.

Given the two-day settlement time frame, shareholders must register on Dewa’s share register by the last authorization date of April 18.

Matar Humaid Al Tayer, chairman of the board, said Dewa’s unwavering efforts underpin Dubai’s record of achievement and establish its global leadership, especially in the transition to renewable and clean energy.

“In 2022, Dewa delivered its best full-year consolidated and stand-alone financial performance in its operating history,” Al Tayer said.

“As a result, we have increased our dividend payout by 60% to AED9.9 billion for 2022. Our achievements reflect Dewa’s world-class governance, efficiency, sustainability and innovation,” he added.

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