Stock-DEWA Image Credit: Supplied

Dubai: Dubai Electricity and Water Authority (DEWA), Dubai’s electricity and water services provider listed on the Dubai Financial Market (DFM), reported that its shareholders have approved the payment of a total dividend of Dh3.1 billion.

For shareholders who are invested in DEWA’s shares prior to the dividend record date of April 8, 2024 (with a Last Entitlement Date of April 4, 2024), the next twelve-month dividend yield is 5.0 per cent concerning IPO share price of Dh2.48 per share.

Matar Humaid Al Tayer, Chairman of DEWA, said: "Dubai Electricity and Water Authority plays a crucial role in ensuring that Dubai’s infrastructure keeps pace with the increasing demand for energy and water. Our unwavering efforts have contributed to DEWA’s achievements, highlighted the transition to clean energy and established DEWA’s global leadership.”

"In 2023, DEWA’s annual revenue exceeded Dh29 billion, operating profit was over Dh8.7 billion and EBITDA was over Dh14.7 billion, all figures reflect the highest in its history. I am optimistic about our operating and financial outlook for 2024.” added Al Tayer.