Empower Approves AED 437.5 Million Dividend Amid Record Growth
Emirates Central Cooling Systems Corporation PJSC (Empower) has approved a cash dividend of AED 437.5 million (4.375 fils per share) for the second half of 2024, following a robust financial performance.
The decision was endorsed at the company's Annual General Meeting (AGM), chaired by His Excellency Saeed Mohammed Al Tayer, with a quorum of 89.9% of paid-up share capital.
Empower recorded its highest-ever revenue of AED 3.26 billion for 2024, with a net profit of AED 908 million. Having distributed AED 850 million in dividends last year, the company announced a new policy committing AED 875 million annually for 2025 and 2026, payable in April and October.
Al Tayer emphasized Empower's strategic role in Dubai's district cooling sector, aligning with the emirate's economic and sustainability goals. 'Our unique business model strengthens Dubai's economy while delivering sustainable returns,'
he stated. He highlighted the company's commitment to innovation, infrastructure expansion, and environmental sustainability.
His Excellency Ahmad Bin Shafar, CEO, reaffirmed Empower's growth trajectory, citing increasing demand driven by Dubai's real estate sector. He expressed confidence in continued expansion and long-term shareholder value.
With its advanced infrastructure and strong market position, Empower remains a leader in district cooling, driving efficiency and sustainable energy solutions in Dubai's urban landscape.
News Source: Dubai Media Office
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