DEWA approves AED 4.77 billion dividend payment

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

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

For shareholders who invested in DEWA’s shares prior to the dividend record date of April 20 (with a Last Entitlement Date of April 18), the next twelve-month dividend yield is at 6.3 per cent, 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, “In 2022, DEWA delivered the best full year consolidated and standalone financial performance in its operating history. As a result, we have increased our dividend payout for the year 2022 by 60 per cent to AED 9.9 billion.

"Our achievements reflect DEWA's world-class governance system, efficiency, sustainability, and innovation. Our circular economy strategy supports the ongoing efforts to optimise resource usage and enhance social, economic, and environmental value, promoting sustainability. We have adopted several policies and plans that align with ambitious national strategies."

The meeting, chaired by Matar Humaid Al Tayer, 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 per cent of the shareholders.

DEWA held its annual general assembly on 10 April 2023 where shareholders approved the payment of H2, 2022 dividend of AED 3.1 billion and a one-time special dividend of AED 1.67 billion pic.twitter.com/HXXoX1ZNw6

— DEWA | Official Page (@DEWAOfficial) April 10, 2023