Dubai Electricity and Water Authority (Dewa) has announced that the company is set to pay its shareholders a dividend of AED3.1 billion ($843 million) or 6.2 fils per share for the first half of 2023. This is based on a record date of October 18.

 

On April 10, 2023, Dewa’s shareholders authorised and delegated the board to pay the cash dividend for the first half in October. 

 

The board of directors of Dewa authorised the payment of H1 2023 dividend on August 10, with a record date of October 18.

 

According to Dewa, the dividend will be paid to all shareholders via Dubai CSD on October 26.

 

"We continue to make great progress in the execution of our strategy which is focused on delivering sustainable growth, staying at the forefront of smart and innovative operational excellence, and optimising returns for all our stakeholders while minimising our environmental footprint," said Saeed Mohammed Al Tayer, MD and CEO of Dewa. 

 

"We intend to continue to deliver on our growth trajectory, delivering robust cash generation, a strong balance sheet and exceptional returns to shareholders," noted Al Tayer.

 

"For our shareholders, this means that Dewa’s strategy is focused on ensuring consistency of returns, durability of growth, and compounding our growth value over time. This forms the basis of our core value proposition to our shareholders," he added.-TradeArabia News Service