Dubai Electricity & Water Authority's AGM Insights
The Dubai Electricity and Water Authority (DEWA) is set to hold its annual general assembly, presenting key financial decisions and future plans.
Summary
DEWA's upcoming AGM will discuss financial reports, dividends, and board elections, reflecting strong financial health and future prospects.
The Dubai Electricity and Water Authority (DEWA), a key player in the UAE's utilities sector, is gearing up for its annual general assembly (AGM) meeting. Scheduled for March 21, 2025, the meeting will be held both electronically and at the Kempinski Boulevard Hotel, offering shareholders a comprehensive overview of the company's financial health and strategic direction.
One of the primary agenda items is the approval of the Board of Directors' report on DEWA's activities and financial position for the fiscal year ending December 31, 2024. This report is crucial as it provides insights into the company's operational efficiency and financial stability. Shareholders will also consider the auditor's report, which further validates DEWA's financial integrity.
Another significant point of discussion will be the approval of DEWA's balance sheet and profit and loss account for 2024. These documents are essential for assessing the company's financial performance and future growth potential. Additionally, the AGM will address the interim cash dividends of AED 3.1 billion (6.2 fils per share) distributed for the first half of 2024 and propose a similar dividend for the second half of the year, reflecting DEWA's robust financial health and commitment to shareholder returns.
Moreover, the AGM will authorize the Board of Directors to distribute a cash dividend of AED 3.1 billion for the first half of 2025, indicating confidence in DEWA's continued profitability. The meeting will also absolve both the Board and auditors of liability for the 2024 fiscal year, a move that suggests satisfaction with their performance and adherence to governance standards.
The election of board members for the next three years is another critical item on the agenda. This decision will shape DEWA's strategic direction and influence its operational priorities. The company's commitment to transparency and shareholder engagement is evident in its comprehensive approach to the AGM, including electronic voting and live streaming options for shareholders.
From a financial analysis perspective, DEWA's consistent dividend payouts and strong financial reports make it an attractive investment. The company's strategic initiatives and robust governance framework further bolster its long-term growth prospects. Therefore, for investors looking for stability and steady returns, holding DEWA shares could be a prudent decision.
Source
Summary
The Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA) invites its shareholders to attend the annual general assembly meeting on Friday, March 21, 2025, at 11:00 am, which will be held both remotely and at the Kempinski Boulevard Hotel. Shareholders will receive the meeting link via email and text. The agenda includes approval of the Board's report, auditor's report, balance sheet, and profit and loss account for 2024, as well as the approval of cash dividends for the first and second halves of 2024. The meeting will also cover the authorization of dividends for the first half of 2025, absolution of liabilities for the Board and auditors for 2024, appointment of auditors for 2025, and Board remuneration. Shareholders must register to vote electronically, and proxies are allowed under specific conditions. The meeting requires a quorum of 50% of the Company's capital, with a second meeting scheduled if necessary. Shareholders should ensure their contact information is updated for communication and dividend purposes. Electronic registration and voting details will be provided, and shareholders can contact DEWA or Dubai Financial Market for assistance.
