DEWA Announces AED 3.1 Billion Dividend for 2024
Dubai Electricity & Water Authority PJSC reveals key financial decisions and dividend distribution for 2024.
Summary
DEWA's Board of Directors has approved the release of preliminary financial statements for 2024 and endorsed a cash dividend of AED 3.1 billion.
The Dubai Electricity and Water Authority PJSC (DEWA), a pivotal player in Dubai's utilities sector, has announced significant financial decisions following its recent Board of Directors meeting. The company, which has been the exclusive provider of electricity and potable water in Dubai since its formation in 1992, continues to show robust financial health and commitment to shareholder value.
In a press release dated 10th February 2025, DEWA's Board approved the release of the company's preliminary and unaudited financial statements for 2024. This move sets the stage for transparency and provides stakeholders with an early insight into DEWA's financial performance over the past year.
One of the most notable outcomes from the board meeting is the endorsement of a cash dividend distribution amounting to AED 3.1 billion, equivalent to 6.2 fils per share, for the second half of 2024. This dividend is slated for payment to eligible shareholders in April 2025, pending approval at the upcoming annual general assembly. The key dates for shareholders to note include the last entitlement date on 27 March 2025, the ex-dividend date on 28 March 2025, and the record date on 31 March 2025.
Additionally, the Board has sanctioned the agenda for DEWA's Annual General Assembly meeting for the financial year ending December 2024. The meeting is scheduled for 21 March 2025, subject to the approval of the UAE's Securities and Commodities Authority. This assembly will not only address the financial agenda but also open nominations for board membership, ensuring continued strategic oversight and governance.
For investors, DEWA's consistent dividend strategy underscores its stable cash flow and commitment to rewarding shareholders. The company's strategic importance in Dubai's infrastructure and its monopoly in the utilities sector make it a solid investment choice for those seeking steady returns.
Given the positive financial outlook and strategic initiatives, investors might consider holding their current positions in DEWA. The company's established market position, coupled with its proactive financial management, suggests a stable future outlook.
In conclusion, DEWA's latest announcements reflect its ongoing commitment to financial transparency and shareholder value. As Dubai continues to grow and expand, DEWA's role as a key utility provider will remain integral to the emirate's development. Investors should stay informed about DEWA's financial health and strategic decisions to make well-informed investment choices.
Source
Summary
The Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA) has approved several key items. They have released the company's preliminary and unaudited financial statements for 2024 and set the agenda for the Annual General Assembly meeting for the financial year ending December 2024. Additionally, they endorsed the distribution of a cash dividend of AED 3.1 billion (6.2 fils per share) for the second half of 2024, to be paid in April 2025, pending shareholder approval. Important dates include the last entitlement date on March 27, 2025, ex-dividend date on March 28, 2025, and record date on March 31, 2025. The board also approved the invitation to hold an Annual Assembly meeting on March 21, 2025, subject to the UAE Securities and Commodities Authority's approval, with the invitation expected to be published in late February 2025. Furthermore, they approved the opening of nominations for board membership, also subject to regulatory approval.
