DEWA Approves AED 3.1 Billion Dividend Payment for H2 2024

Business

DEWA Approves AED 3.1 Billion Dividend Payment for H2 2024

Dubai Electricity and Water Authority PJSC (DEWA) (ISIN: AED001801011) (Symbol: DEWA), the exclusive electricity and water services provider in Dubai, has announced that its shareholders have approved a total dividend payment of AED 3.1 billion for the second half of 2024. The decision was made during the General Assembly meeting held on March 21, 2025, with a record date set for March 31, 2025.

Strong Shareholder Participation and Leadership Strategy

The General Assembly meeting, chaired by HE Matar Humaid Al Tayer, Chairman of DEWA’s Board of Directors, saw the participation of 92.2% of shareholders. The meeting also marked the election of a new Board of Directors for the next three-year term.

For shareholders who invest in DEWA shares before the record date (March 31, 2025), the dividend yield for the next 12 months is projected at 5.0%, based on the initial public offering (IPO) price of AED 2.48 per share.

Commitment to Growth and Sustainability

Highlighting DEWA’s strategic vision, HE Matar Humaid Al Tayer stated:

“Our commitment to sustainable growth, innovation, and value creation remains stronger than ever. We continue to drive efficiency, invest in future-ready solutions, and strengthen our role as a global leader in clean energy and digital transformation. Not only are we meeting the increasing demand for electricity and water, but we are also pioneering the transition towards a cleaner and more sustainable energy future.”

Financial Performance and Future Outlook

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, emphasized the company’s strong financial performance in 2024:

“DEWA remains steadfast in its commitment to excellence, sustainability, and long-term growth. In 2024, DEWA Group delivered another year of strong performance, reporting consolidated full-year revenue of AED 30.98 billion, EBITDA of AED 15.73 billion, and net profit after tax of AED 7.23 billion. Our consolidated annual revenue grew by 6.17%, primarily driven by rising demand for electricity, water, and cooling services.”

With a forward-thinking approach, investment in cutting-edge technology, and world-class governance, DEWA continues to set benchmarks in operational and financial excellence while reinforcing its position as a leader in clean energy and digital transformation.