Press releases, Reports & Disclosures for Salik Company PJSC

Salik Company PJSC, the exclusive toll gate operator in Dubai, has concluded its Annual General Meeting (AGM), approving the distribution of AED 550 million in cash dividends, equivalent to 7.3338 fils per share. This represents 100% of the net profit for the second half of 2023. The total cash dividends for 2023 amounted to AED 1,097,962,219, or 14.6395 fils per share, which is approximately 100% of the distributable net profit for 2023. The AGM also approved various Special Resolutions, including amendments to the company's Articles of Association and Corporate Social Responsibilities policy. The company reported a record total revenue of AED 2.1 billion in 2023, an increase of 11.4% YoY.

On April 2, 2024, the CEO of Dubai Financial Market, Mr. Hamed Ahmed Ali, received a letter detailing the results of Salik Company PJSC's Annual General Meeting. The meeting was held on April 4, 2024, both remotely and physically at the InterContinental Dubai Festival City hotel. The total attendance quorum reached 76.44%, with 0.01% being authentic attendance and 76.43% being proxy attendance. The meeting approved the appointment of Dr. Fady Kayyal as the meeting secretary and Lumi as vote collectors. The Board of Directors' report on the company’s activity and financial position for the fiscal year ending December 31, 2023, along with the auditor’s report and the company’s balance sheet for the same period, were approved. The board's proposal to distribute cash dividends of AED 550,035,000, representing 100% of the distributable net profit for the second half of the fiscal year, was considered. The dividend payment date is set for April 22, 2024.

Salik Company PJSC has invited shareholders to its Annual General Assembly Meeting (AGM) on 04 April 2024. The meeting will be held both virtually and physically at the InterContinental Dubai Festival City hotel. The agenda includes approving the meeting secretary and vote collectors, reviewing and approving the company's 2023 financial reports, and considering a proposal for a cash dividend distribution. Other items include reviewing the Board of Directors' remuneration, and discussing potential actions regarding the board members for the fiscal year ended on 31 December 2023.

Salik, Dubai's exclusive toll gate operator, reported record full-year revenues of AED 2.1bn ($572m) in 2023, an increase of 11.4% from 2022. The company's revenue-generating trips reached 461.4 million in 2023, and totalled 123.2 million in the fourth quarter, up 11.7% and 11.1% year-on-year respectively. Active registered accounts and vehicles increased by 16.0% and 8.3% to reach 2.4 million and 4.0 million respectively. The company's net profit for FY 2023 was AED 1.1bn ($299m), with a proposed dividend of AED 550m ($150m). Salik also announced a new corporate strategy to become a global leader in sustainable and smart mobility solutions over the next five years.