DFM-listed Empower to spread Dh425 million as H1-2024 interim dividend

Dubai: Empower shareholders are up for a Dh425 million dividend related to the Dubai district cooling company’s H1-2024 performance. Individually, this works out to Dh0.0425 a share, making up 42.5 per cent of the paid up capital.

The record date for investors in the stock is October 3.

Empower has been adding to its capacity and winning major contracts, notably the one for the Al Habtoor tower on Shaikh Zayed Road. The H1-2024 EBITDA tally was Dh693 million, a gain of 6 per cent year-on-year and net profit at Dh390 million. The stock is trading at Dh1.74, up by over 4 per cent year-to-date.

With a significant supply of new property, residential and commercial, across Dubai set to come online in the short-term, Empower will be looking to significantly jack up capacities across the board.