DEWA Announces AED 3.1 Billion Dividend Payout
Dubai Electricity & Water Authority PJSC (DEWA) is set to hold its Annual General Assembly, proposing significant dividends and strategic resolutions.
Summary
DEWA's upcoming General Assembly will discuss key resolutions, including AED 3.1 billion dividend payouts for 2024, reflecting robust financial health.
The Dubai Electricity and Water Authority PJSC (DEWA), a cornerstone of Dubai's infrastructure landscape, has announced its Annual General Assembly (GA) meeting scheduled for March 21, 2025. This meeting is pivotal as it will address various critical resolutions, including the approval of substantial cash dividends and the election of board members.
DEWA's agenda for the GA is comprehensive, reflecting its commitment to transparency and shareholder engagement. One of the key highlights is the approval of the Board of Directors' report on the company's activities and financial position for the fiscal year ending December 31, 2024. This report will provide insights into DEWA's operations and strategic initiatives, showcasing its role in supporting Dubai's economic growth.
Furthermore, shareholders will consider the auditor's report, balance sheet, and profit and loss account for the same fiscal year. These documents are crucial for evaluating DEWA's financial health and operational efficiency, offering a detailed view of its performance metrics.
A significant point of interest is the proposal to distribute AED 3.1 billion in cash dividends for the second half of 2024, mirroring the interim dividends paid earlier in the year. This consistent dividend policy underscores DEWA's robust financial standing and its commitment to delivering shareholder value. The dividends are set to be disbursed in April 2025, providing a tangible return on investment for shareholders.
Additionally, the GA will authorize the Board to distribute another AED 3.1 billion in dividends for the first half of 2025, slated for October 2025. This forward-looking dividend strategy is indicative of DEWA's confidence in its future earnings and cash flow generation.
Other notable agenda items include absolving the Board and auditors of liability for 2024, appointing auditors for 2025, and determining the remuneration for the Board of Directors. These resolutions are integral to maintaining corporate governance standards and ensuring accountability.
Given DEWA's strong financial performance and strategic dividend policy, the outlook for the company remains optimistic. The consistent dividend payouts highlight DEWA's ability to generate substantial cash flows, making it an attractive investment option. Therefore, investors might consider holding onto their DEWA shares to benefit from future dividends and potential capital appreciation.
Source
Summary
The Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA) invites shareholders to attend the annual general assembly meeting on Friday, 21 March 2025, at 11:00 am. The meeting will be held both electronically and at the Kempinski Boulevard Hotel. Shareholders will receive the meeting link via email and text message. The agenda includes approving reports and financial statements for the year ending 31 December 2024, authorizing cash dividends, absolving the Board and auditors of liability, appointing auditors, and electing Board members for the next three years. Shareholders must register to vote electronically and can delegate others to attend on their behalf, with certain restrictions. The meeting requires a quorum of at least 50% of the company's capital, with a second meeting scheduled if the quorum is not met. Shareholders registered by 20 March 2025 are entitled to vote. Electronic registration and voting details will be sent to shareholders, who can also attend the meeting via live stream. For assistance, shareholders can contact the Dubai Financial Market or DEWA.
Summary
The document is a proxy form for the General Assembly Meeting of Dubai Electricity and Water Authority (DEWA) scheduled for March 21, 2025, at 11 a.m. The form allows a shareholder to authorize another person to attend the meeting on their behalf and vote on agenda items. The form requires the shareholder's details, including name, investor number, contact information, and the number of shares held. The authorized person’s details, such as ID number and mobile number, are also needed. The form must be signed and dated by the shareholder, and if applicable, stamped by a corporate shareholder.
