Dubai Financial Market PJSC Gears Up for Annual General Assembly: An Insightful Preview
An in-depth look at the upcoming annual general assembly meeting of the Dubai Electricity and Water Authority (DEWA), a subsidiary of Dubai Financial Market PJSC, and its implications for investors.
Summary
The Dubai Financial Market PJSC is preparing for the annual general assembly meeting of one of its major subsidiaries, DEWA. The meeting, scheduled for 28 March 2024, will discuss key financials and potential dividend distributions, presenting potential opportunities for investors.
Dubai Financial Market PJSC, a leading financial institution in the UAE, is gearing up for the annual general assembly meeting of the Dubai Electricity and Water Authority (DEWA), one of its prominent subsidiaries. The meeting is scheduled for 28 March 2024 and is set to be a significant event for both the company and its shareholders.
The agenda for the meeting includes a review and approval of DEWA's financial reports, including the company's balance sheet and profit and loss account for the year ending 31 December 2023. The meeting will also discuss potential cash dividend distributions, providing an opportunity for shareholders to reap the benefits of their investments.
Another critical point on the agenda is the absolution of board members and auditors from liability for the financial year that ended 31 December 2023. This is a standard procedure in corporate governance, providing assurance that the company's financial affairs have been managed appropriately.
Looking at the company's recent performance, there is reason to be optimistic about its future. The company's current market cap stands at a robust AED 10.8 billion, and its recent yield rates have shown promising signs. The 3-month yield rate stands at 0.03%, while the 1-month yield rate is slightly higher at 0.05%.
Given these factors, it is suggested that potential investors consider acquiring shares in Dubai Financial Market PJSC. The company's strong financial position, coupled with its upcoming annual general assembly, presents a promising opportunity for those looking to invest in a robust and reliable financial institution.
Source
Summary
The Board of Directors of the Dubai Electricity and Water Authority (DEWA) has invited its shareholders to its annual general assembly meeting on 28 March 2024. The meeting will be held both remotely and at the Kempinski Boulevard Hotel. The meeting will discuss and approve the Board of Directors' report, the auditor's report, the company's balance sheet, and profit and loss account for the financial year ending 31 December 2023. It will also consider cash dividend distributions and absolve the board members and auditors of liability for the financial year that ended 31 December 2023. The appointment and fees of the external auditor for the fiscal year ending 31 December 2024 will be approved, along with the total remuneration for the Board of Directors. Shareholders are required to register their attendance for voting rights and can delegate a representative to attend the meeting. The meeting will only be valid if shareholders representing at least 50% of the company's capital are in attendance.
