Dubai: Dubai Electricity and Water Authority PJSC will hold its first general assembly meeting on October 10, 2022, it said on Sunday.
The assembly will vote on the recommendation of the board of directors on a cash dividend distribution of Dh3.1 billion (Dh6.2 fils per share) for the first half of 2022. This is intended to be paid to the company’s eligible shareholders in October 2022.
The assembly will also vote on the recommendation of the board to suspend any further allocation of profit towards legal reserve as the company’s legal reserve is currently in excess of 50 per cent of the share capital of the company.
DEWA reported revenues of Dh12.08 billion and net profit of Dh3.3 billion in the first half 2022.