Dubai Taxi Company Announces 2025 AGM Details

Dubai Taxi Company P.J.S.C., a major player in the UAE's transport sector, has announced its Annual General Meeting (AGM) scheduled for March 19, 2025. The meeting will take place at the Al Ras ballroom, InterContinental Hotel, Dubai Festival City, with options for electronic participation, ensuring inclusivity for all shareholders.

The AGM agenda is packed with significant resolutions that are pivotal for the company's future. Among the primary items is the approval of the Board of Director's report and the independent auditor's report for the fiscal year ending December 31, 2024. These reports provide crucial insights into the company's activities and financial health, reflecting its operational efficiency and transparency.

One of the most anticipated resolutions is the proposal to distribute cash dividends amounting to AED 122,308,369, which represents 85% of the net profit for the second half of 2024. This decision underscores the company's robust financial performance and commitment to rewarding its shareholders. The dividend distribution is scheduled for April 14, 2025, with provisions for semi-annual dividends for the first half of 2025, aligning with the company's dividend policy.

The AGM will also deliberate on the Board of Directors' remuneration, amounting to AED 3,896,000, and the discharge of liabilities for both the directors and the independent external auditors. These resolutions are crucial for maintaining corporate governance and accountability.

Additionally, a special resolution seeks to amend the definition of the Government Shareholder in the company's Articles of Association, reflecting a strategic alignment with the Government of Dubai's interests.

Given the company's strong financial standing and strategic initiatives, investors might consider a buy position. The promising dividend policy and the strategic alignment with governmental interests suggest a positive outlook for the company's future growth and shareholder value.