DEWA Approves AED3.1 Billion Dividend Amid Strong Financial Performance
Dubai Electricity and Water Authority (DEWA) has announced shareholder approval for a total dividend payout of AED3.1 billion for the second half of 2024, with a record date set for March 31, 2025.
The decision was made during the general assembly meeting held today, which saw a 92.2% shareholder attendance and the election of a new Board of Directors for the next three years.
Chaired by Matar Humaid Al Tayer, Chairman of DEWA's Board of Directors, the meeting underscored Dubai's continued economic growth and sustainability efforts. "Dubai continues to consolidate its position as a global leader in economic growth, sustainability, and innovation. DEWA remains a key pillar of this success, ensuring that energy and water infrastructure meets the emirate's rapid expansion,"
Al Tayer stated.
Saeed Mohammed Al Tayer, MD & CEO of DEWA, highlighted the company's robust financial performance in 2024, reporting a consolidated annual revenue of AED30.98 billion, EBITDA of AED15.73 billion, and a net profit of AED7.23 billion. Revenue growth of 6.17% was primarily driven by increased demand for electricity, water, and cooling services.
DEWA continues to set global benchmarks in operational efficiency, maintaining the world's lowest electricity line losses at 2%, water network losses at 4.5%, and Customer Minutes Lost (CML) of less than one minute per year.
Looking ahead, Saeed Al Tayer expressed confidence in 2025, citing Dubai's expanding tourism sector, growing residential and commercial demand, and increasing infrastructure investments as key drivers of growth.
News Source: Emirates News Agency
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