Dubai: Dubai utility giant DEWA will pay a special dividend. This follows the company receiving DEWA a cash dividend of Dh2.03 billion from Empower, its 70 per cent owned district cooling subsidiary.
“As a result, DEWA intends to seek all necessary approvals to make a one-time special dividend payment to its shareholders,” said Saeed Mohammed Al Tayer. “The timing and size of the special dividend are under study.
“This one-time special dividend is intended to be an additional payment to shareholders over DEWA’s stated annual dividend policy of paying Dh6.2 billion in dividends,” Al Tayer added. It had earlier confirmed full-year dividend of Dh6.2 billion.
It had earlier confirmed full-year dividend of Dh6.2 billion. DEWA’s dividend policy is to pay a minimum dividend of Dh6.2 billion per year over the next five years. It will be making the first dividend payment of 6.2 fils per share (Dh3.1 billion) for H1-2022 on October 26.
For H2-2022, DEWA expects to pay 6.2 fils per share in April 2023.