Empower Approves AED 437.5M Dividend, Elects New Board

Dubai, UAE, 9 October 2025 – Emirates Central Cooling Systems Corporation PJSC (DFM: EMPOWER, ISIN: AEE01134E227), the world’s largest district cooling services provider, successfully held its General Assembly Meeting with a quorum of 88.3%, underscoring the strong engagement and confidence of its shareholders. During the meeting, attendees approved the Board of Directors’ recommendation to distribute cash dividends of AED 437.5 million, equivalent to 4.375 fils per share, representing 43.75% of the company’s paid-up capital, for the first half of 2025.

The meeting, chaired by HE Saeed Mohammed Al Tayer, Chairman of the Board of Directors, took place on Thursday, 9 October 2025, at the Kempinski Central Avenue Hotel, Dubai. HE Ahmad Bin Shafar, CEO of Empower, along with the Board of Directors, attended the proceedings. Shareholders reviewed and approved the agenda items, including the election of the new Board of Directors for the 2025–2028 term. The newly elected board comprises HE Saeed Mohammed Al Tayer, Mr. Amit Kaushal, Mr. Issam Kazim, Ms. Fatma Belrehif, Mr. Hussain Lootah, Mr. Majed Al Joker, and Mr. Nasser Lootah, ensuring continued strategic oversight and governance.

Exceptional Financial Performance

Empower has demonstrated remarkable operational and financial performance during the first half of 2025. In August, the company reported revenues of AED 1,453 million and a net profit of AED 403 million, reflecting robust growth across its operations. The approved dividend distribution aligns with Empower’s commitment to providing consistent returns to its shareholders while reinforcing its long-term financial stability.

Strengthening Dubai’s Sustainable Development Goals

HE Saeed Mohammed Al Tayer highlighted Empower’s pivotal role in advancing Dubai’s sustainable development agenda, stating:
"We are steadily advancing our sustainable development journey, built on the visionary guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. The General Assembly’s approval of a cash dividend of AED 437.5 million, representing 43.75% of paid-up capital, reflects Empower’s success in delivering growing results while maintaining a pioneering business model that strengthens Dubai’s position as a global hub for district cooling."

HE Al Tayer further emphasized Empower’s strategic initiatives aimed at solidifying its global leadership:
"Empower continues to expand proactively, meeting the rising demand for district cooling services while enhancing the scale and quality of offerings to our customers. Through the development of next-generation plants characterized by high energy efficiency and sustainability, we are not only supporting Dubai’s infrastructure growth but also contributing to the conservation of natural resources, reduction of carbon emissions, and delivering profitable, long-term returns to shareholders in line with the UAE’s Net Zero 2050 objectives."

Driving Operational Excellence and Innovation

HE Ahmad Bin Shafar, CEO of Empower, underscored the company’s ongoing growth trajectory and innovation-led strategy:
"Empower’s strong performance reaffirms the strength of our business model, driven by increased demand across residential, commercial, and hospitality sectors. Moving forward, we are committed to accelerating our expansion plans, investing in cutting-edge technologies to enhance efficiency and cost-effectiveness, and balancing attractive shareholder returns with contributions to Dubai’s sustainability and innovation agendas."

HE Bin Shafar added:
"Over the past year, Empower has aligned its growth strategy with Dubai’s rapid economic expansion, achieving key objectives and strengthening its diversified project portfolio. The company continues to enhance service quality for customers across all sectors, reflecting our commitment to operational excellence. We remain focused on sustaining this momentum and further solidifying Empower’s position as the global leader in the district cooling sector."

About Empower

Emirates Central Cooling Systems Corporation PJSC (Empower) is the largest district cooling service provider worldwide, delivering efficient, sustainable, and cost-effective cooling solutions across Dubai. The company operates with a commitment to innovation, environmental responsibility, and excellence in customer service, playing a vital role in the city’s sustainable infrastructure and economic growth.