DEWA approves AED 3.1B dividend payout to shareholders for H2 2024

Post by: Layla Badr

Photo: Dubai Government Media Office

Dubai Electricity and Water Authority (DEWA), the company responsible for providing electricity and water in Dubai, announced that its shareholders have approved a dividend payment of AED 3.1 billion for the second half of 2024. This decision was made during the general assembly meeting held on March 21, 2025. The record date for the dividend is March 31, 2025, meaning investors who own DEWA shares before this date will receive the payment.

Details of the General Assembly Meeting

The meeting was led by HE Matar Humaid Al Tayer, Chairman of DEWA’s Board of Directors, and attended by HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, as well as board members and 92.2% of DEWA’s shareholders. During the meeting, a new Board of Directors was elected to serve for the next three years. The event was held at Kempinski The Boulevard Hotel in Dubai and was also available for virtual attendance.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel  

Dividend Yield for Shareholders

Investors who own DEWA shares before the last entitlement date of March 27, 2025, will receive the dividend. Based on DEWA’s IPO share price of AED 2.48 per share, the dividend yield for the next twelve months is estimated to be 5.0%.

Leadership’s Vision and Commitment

HE Matar Humaid Al Tayer, Chairman of DEWA, expressed his pride in Dubai’s ongoing growth under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. He highlighted how DEWA plays a key role in supporting Dubai’s rapid economic and technological development by maintaining reliable energy and water infrastructure.

“We are dedicated to improving efficiency, investing in modern technology, and leading the way in clean energy and digital transformation. Our goal is not just to meet the rising demand for electricity and water but to transition towards a greener and more sustainable energy future. DEWA continues to innovate and set new global standards in financial and operational excellence,” said Al Tayer.

Strong Financial Performance in 2024

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, emphasized that the company remains committed to excellence, sustainability, and long-term growth, guided by the vision of Dubai’s leadership. He shared DEWA’s strong financial results for 2024, reporting total revenue of AED 30.98 billion, EBITDA of AED 15.73 billion, and a net profit after tax of AED 7.23 billion. The company’s revenue increased by 6.17%, mainly due to higher demand for electricity, water, and cooling services.

By the end of 2024, DEWA had an electricity generation capacity of 17,179 MW, including 3,060 MW from clean energy sources. Water production capacity reached 495 million imperial gallons per day (MIGD). DEWA is committed to sustainability, operational efficiency, and achieving net-zero carbon emissions by 2050.

Global Achievements and Future Outlook

DEWA continues to expand its network, serving over 1.27 million customer accounts. The company has achieved global recognition for its efficiency, with the lowest electricity line losses (2%), the lowest water network losses (4.5%), and the lowest Customer Minutes Lost (CML), averaging less than one minute per year. These achievements set a global benchmark for reliability. Through digitalization and artificial intelligence, DEWA is constantly improving its services and infrastructure, ranking first worldwide in 12 key utility performance indicators.

Looking ahead to 2025, Al Tayer expressed confidence in DEWA’s growth, supported by Dubai’s thriving tourism, real estate, and industrial sectors. He emphasized DEWA’s commitment to innovation, strong financial performance, and sustainability, ensuring that Dubai continues to be a global hub for excellence and green energy development.

With a strong focus on technological advancements and environmental responsibility, DEWA remains dedicated to providing world-class services and creating long-term value for its stakeholders.

#trending #latest #DEWA #Dubai #Dividend #StockMarket #Investing #UAE #FinancialNews #Shareholders #Sustainability #CleanEnergy #WaterSupply #Electricity #EconomicGrowth #DubaiBusiness #RenewableEnergy #SmartInfrastructure #DigitalTransformation #GreenFuture #EnergySector #UtilityIndustry #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai