Latest news with #MohamedAlAli
Zawya
02-04-2025
- Business
- Zawya
Parkin declares dividend of AED 280.9mln for H2 2024
Parkin Company PJSC ('Parkin' or the 'Company'), the largest provider of paid public parking facilities and services in Dubai, today announces its planned dividend payment for the second half ('H2' or 'second half') of 2024. Key Highlights As per the approved dividend policy, the Company is to distribute the higher of Net Income or Free Cash Flow to Equity Following a strong second half operational performance, the Company will distribute a cash dividend of AED 280.9 million on 23 April 2025, derived from its Free Cash Flow to Equity On a per share basis, the H2 dividend payment amounts to 9.36 fils per share Eng. Mohamed Al Ali, CEO of Parkin, commented: 'Parkin's record profits and growth in the fourth quarter closed a strong second half performance in 2024. Our consistent profitable growth throughout the year was supported by our dominant market position, best-in-class operational excellence, digitisation and continued innovation. I am proud that Parkin exceeded the full year financial targets we set out at IPO. This success is testament to the vision, dedication and considerable efforts of our leadership team, with valuable oversight from our highly experienced Board. 2024 was a year of milestones achievements for our business and we are well positioned to capture new opportunities in 2025. Parkin's second half dividend reflects continued confidence in future growth and our steadfast commitment to delivering attractive, long-term shareholder value.' Dividend Distribution Parkin's ability to pay dividends is dependent on several factors, including the availability of distributable reserves, capital expenditure plans and other cash requirements. Any level or payment of dividends will depend on, among other things, future profits and the Company's business plan, at the discretion of the Board of Directors and the General Assembly. Subject to the aforementioned conditions, Parkin expects to distribute a minimum dividend payout of the higher of: (i) 100% of Net Income; or (ii) Free Cash Flow to Equity Distribution of a dividend is designed to reflect the Company's expectation of strong cash flow generation and expected long-term earnings potential. The Company intends to pay dividends semi-annually in April and October of each year. Dividend distribution will be reviewed annually by the Board of Directors and the General Assembly, taking into account the Company's cash management needs for operating expenses, finance costs and planned capital expenditures and investments. Additionally, the Board will consider market conditions, the current operating environment and future outlook. Dividend Payment Timeline 3 April 2025 Last Entitlement Date This is the last day on which an investor may purchase Parkin shares to meet the Record Date deadline and be entitled to receive the scheduled cash dividend payment for H2 2024 4 April 2025 Ex-Dividend Date On this day, the Company's shares will begin to trade without the value of the scheduled dividend payment An investor purchasing Parkin shares on, or after this date, will not be entitled to receive the cash dividend 7 April 2025 Record Date / Registry Closing Date This is the date on which the Company will check its records to identify shareholders that qualify to receive the cash dividend payment If you are recorded as a Parkin shareholder on this date, you will be entitled to receive the cash dividend 23 April 2025 Dividend Payment Date This is the date on which the Dubai Central Securities Depository will issue instructions for crediting the cash dividend to eligible shareholders Payment of dividends to a UAE bank account may take up to three working days to process IR and Media Enquiries For more information, please visit or contact: Investors / Analysts Media About Parkin Company PJSC With a unique blend of operational excellence, technological know-how and enforcement capability spanning almost three decades, Parkin Company PJSC is the largest provider of paid public parking facilities and services in the Emirate of Dubai, with a portfolio of approximately 206k paid parking spaces, as at year end 2024. Parkin has a dominant position in relation to Dubai's on and off-street paid public parking market and a leading share of the overall paid parking market. Under a 49-year Concession Agreement with Dubai's Roads and Transport Authority (RTA), Parkin has the exclusive right to operate a portfolio of public on and off-street parking (c.184k spaces) as well as public multi-storey car parking facilities (c.3k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (c.19k spaces) and provides barrierless parking for Majid Al Futtaim across two malls. Additional revenue streams include enforcement, the issuance of seasonal permits, parking reservations and other commercial activities. By deploying state of the art digital payment solutions and intelligent parking management systems that utilise artificial intelligence and big data analysis, Parkin's customers successfully conducted 132m parking transactions in 2024. Dubai's parking operations were established in 1995 under the Dubai Municipality, before becoming part of the RTA in 2005. In December 2023, Parkin Company PJSC was established through the issuance of Law No. 30 of 2023, successfully completing its initial public offering (IPO) on the Dubai Financial Market in March 2024.
Al Etihad
05-03-2025
- Automotive
- Al Etihad
DEWA, Parkin support future of electric vehicles with new charging stations in 2025
3 Mar 2025 18:06 DUBAI (ALETIHAD)Parkin Company PJSC (Parkin), the largest provider of paid public parking facilities and services in Dubai, announced an update to its electric vehicle (EV) charging partnership with Dubai Electricity and Water Authority (DEWA). As part of the first phase of this sustainability initiative, DEWA will install new charging stations in the first quarter of 2025. These stations will operate on alternating current (AC) with a capacity of 22 kilowatts x 2 and will be strategically placed across prime parking sites managed by Parkin. Each charging station will serve two parking on-street parking locations in zones A and C have been strategically selected to host the new charging stations, situated within high-density residential communities with limited or non-existent access to EV charging will be able to pay the EV charging tariff and parking fee in a single seamless transaction using Parkin's app and linked digital strategic collaboration will expand the total number of DEWA EV Green Charger stations in Dubai, enabling customers living or working to conveniently access EV charging infrastructure. The improved end-user convenience will contribute to an increase in utilisation at parking spaces adjacent to the EV chargers, enhancing overall operational efficiency and revenue Mohammed Al Tayer, MD and CEO of DEWA, said: 'We continue to strengthen green mobility by encouraging the use of eco-friendly electric vehicles to reduce carbon emissions from the transport sector. This aligns with the Dubai Green Mobility Strategy 2030 and the Dubai Social Agenda 33, which aim to make Dubai the city offering the best living experience. "Our partnership with Parkin to install EV Green Chargers is part of our efforts to provide advanced EV charging infrastructure in Dubai, delivering a seamless experience through charging facilities equipped with state-of-the-art, innovative technologies. These initiatives support the UAE's climate goals and consolidate Dubai's position as a leading global destination to live, work and invest in.'Eng Mohamed Al Ali, CEO of Parkin, commented: 'As the clear market leader in parking operations, management and technology in Dubai, Parkin has a critical role in enabling the transition to EV throughout the Emirate. The installation of green chargers in key locations will enhance our world-class facilities, unlock new opportunities for growth and incentivise EV adoption."With unique operational capabilities and a shared vision to enable sustainable mobility, Parkin and DEWA are committed to further expanding EV infrastructure in our city, directly supporting the environmental, social and mobility ambitions of our wise leadership.'DEWA currently has a wide network of EV Green Chargers, with around 740 charging points across Dubai. DEWA aims to expand this network to 1,000 charging stations by the end of this year. Launched by DEWA in 2014, the EV Green Charger initiative aims to provide a pioneering infrastructure for EV charging stations, supporting the growing adoption of electric vehicles across Dubai.
Hi Dubai
04-03-2025
- Automotive
- Hi Dubai
Parkin Partners with DEWA to Boost EV Charging Infrastructure in Dubai
Parkin Company PJSC (Parkin), Dubai's largest provider of paid public parking facilities, has announced an enhanced partnership with Dubai Electricity and Water Authority (DEWA) to expand electric vehicle (EV) charging infrastructure across the emirate. This initiative is part of Dubai's ongoing commitment to green mobility and sustainability. As part of the first phase, DEWA will install new EV Green Charger stations in the first quarter of 2025. The stations will operate on alternating current (AC) with a capacity of 22 kilowatts x 2, enabling two vehicles to charge simultaneously. Strategically located across prime parking sites managed by Parkin, the charging stations will primarily serve high-density residential communities in zones A and C, where access to EV charging facilities is currently limited. Customers will benefit from a seamless payment experience, with both the EV charging tariff and parking fee payable through Parkin's app and linked digital wallet. This streamlined process aims to improve user convenience and encourage EV adoption. Saeed Mohammed Al Tayer, MD and CEO of DEWA, emphasized that the initiative aligns with the Dubai Green Mobility Strategy 2030 and the Dubai Social Agenda 33, positioning Dubai as a leading global destination for sustainable living. Eng Mohamed Al Ali, CEO of Parkin, highlighted the company's commitment to enabling EV transition and unlocking new growth opportunities through advanced infrastructure. DEWA currently operates around 740 EV Green Charger points across Dubai, with plans to expand the network to 1,000 charging stations by the end of 2024. The partnership between Parkin and DEWA marks a significant step toward supporting the UAE's climate goals and promoting sustainable mobility across the city. News Source: Emirates News Agency
Zawya
04-03-2025
- Automotive
- Zawya
DEWA, Parkin support future of electric vehicles with new charging stations in Q1 2025
DUBAI: Parkin Company PJSC (Parkin), the largest provider of paid public parking facilities and services in Dubai, announced an update to its electric vehicle (EV) charging partnership with Dubai Electricity and Water Authority (DEWA). As part of the first phase of this sustainability initiative, DEWA will install new charging stations in the first quarter of 2025. These stations will operate on alternating current (AC) with a capacity of 22 kilowatts x 2 and will be strategically placed across prime parking sites managed by Parkin. Each charging station will serve two parking spaces. Specific on-street parking locations in zones A and C have been strategically selected to host the new charging stations, situated within high-density residential communities with limited or non-existent access to EV charging facilities. Customers will be able to pay the EV charging tariff and parking fee in a single seamless transaction using Parkin's app and linked digital wallet. This strategic collaboration will expand the total number of DEWA EV Green Charger stations in Dubai, enabling customers living or working to conveniently access EV charging infrastructure. The improved end-user convenience will contribute to an increase in utilisation at parking spaces adjacent to the EV chargers, enhancing overall operational efficiency and revenue potential. Saeed Mohammed Al Tayer, MD and CEO of DEWA, said: 'We continue to strengthen green mobility by encouraging the use of eco-friendly electric vehicles to reduce carbon emissions from the transport sector. This aligns with the Dubai Green Mobility Strategy 2030 and the Dubai Social Agenda 33, which aim to make Dubai the city offering the best living experience. Our partnership with Parkin to install EV Green Chargers is part of our efforts to provide advanced EV charging infrastructure in Dubai, delivering a seamless experience through charging facilities equipped with state-of-the-art, innovative technologies. These initiatives support the UAE's climate goals and consolidate Dubai's position as a leading global destination to live, work and invest in.' Eng Mohamed Al Ali, CEO of Parkin, commented: 'As the clear market leader in parking operations, management and technology in Dubai, Parkin has a critical role in enabling the transition to EV throughout the Emirate. The installation of green chargers in key locations will enhance our world-class facilities, unlock new opportunities for growth and incentivise EV adoption. With unique operational capabilities and a shared vision to enable sustainable mobility, Parkin and DEWA are committed to further expanding EV infrastructure in our city, directly supporting the environmental, social and mobility ambitions of our wise leadership.' DEWA currently has a wide network of EV Green Chargers, with around 740 charging points across Dubai. DEWA aims to expand this network to 1,000 charging stations by the end of this year. Launched by DEWA in 2014, the EV Green Charger initiative aims to provide a pioneering infrastructure for EV charging stations, supporting the growing adoption of electric vehicles across Dubai.
Gulf Today
03-03-2025
- Automotive
- Gulf Today
Dewa, Parkin support future of electric vehicles with new charging stations in Q1 2025
Parkin Company PJSC (Parkin), the largest provider of paid public parking facilities and services in Dubai, announced an update to its electric vehicle (EV) charging partnership with Dubai Electricity and Water Authority (DEWA). As part of the first phase of this sustainability initiative, DEWA will install new charging stations in the first quarter of 2025. These stations will operate on alternating current (AC) with a capacity of 22 kilowatts x 2 and will be strategically placed across prime parking sites managed by Parkin. Each charging station will serve two parking spaces. Specific on-street parking locations in zones A and C have been strategically selected to host the new charging stations, situated within high-density residential communities with limited or non-existent access to EV charging facilities. Customers will be able to pay the EV charging tariff and parking fee in a single seamless transaction using Parkin's app and linked digital wallet. This strategic collaboration will expand the total number of DEWA EV Green Charger stations in Dubai, enabling customers living or working to conveniently access EV charging infrastructure. The improved end-user convenience will contribute to an increase in utilisation at parking spaces adjacent to the EV chargers, enhancing overall operational efficiency and revenue potential. Saeed Mohammed Al Tayer, MD and CEO of DEWA, said: 'We continue to strengthen green mobility by encouraging the use of eco-friendly electric vehicles to reduce carbon emissions from the transport sector. This aligns with the Dubai Green Mobility Strategy 2030 and the Dubai Social Agenda 33, which aim to make Dubai the city offering the best living experience. Our partnership with Parkin to install EV Green Chargers is part of our efforts to provide advanced EV charging infrastructure in Dubai, delivering a seamless experience through charging facilities equipped with state-of-the-art, innovative technologies. These initiatives support the UAE's climate goals and consolidate Dubai's position as a leading global destination to live, work and invest in.' Eng Mohamed Al Ali, CEO of Parkin, commented: 'As the clear market leader in parking operations, management and technology in Dubai, Parkin has a critical role in enabling the transition to EV throughout the Emirate. The installation of green chargers in key locations will enhance our world-class facilities, unlock new opportunities for growth and incentivise EV adoption. With unique operational capabilities and a shared vision to enable sustainable mobility, Parkin and DEWA are committed to further expanding EV infrastructure in our city, directly supporting the environmental, social and mobility ambitions of our wise leadership.' DEWA currently has a wide network of EV Green Chargers, with around 740 charging points across Dubai. DEWA aims to expand this network to 1,000 charging stations by the end of this year. Launched by DEWA in 2014, the EV Green Charger initiative aims to provide a pioneering infrastructure for EV charging stations, supporting the growing adoption of electric vehicles across Dubai.
