Dubai Taxi Co. approves Dh160.7m as interim dividend, hits H1-25 revenues of Dh1.2b

Dubai: Shareholders of Dubai Taxi Company are up for Dh160.7 million - at 6.43 fils a share - as dividends for the first six months of 2025. This is in line with the company's dividend policy of paying at least 85% of annual net profit, distributed semi-annually.

The H1-25 interim dividend is to be distributed in August 2025. The stock is trading at Dh2.43, down over 12% year-to-date.

This follows a strong 18% year-on-year revenue rise in the second quarter to Dh625.2 million helped by fleet expansion and higher number of trips. For H1-2025, revenues increased 11% year-on-year to Dh1.2 billion and 'reflecting sustained momentum throughout the first half of the year'.

"We continue to see strong momentum across our core segments, driven by expanding fleet capabilities and increasing demand for smart, customer-centric mobility solutions," said Mansoor Rahma Alfalasi, Dubai Taxi Co.'s CEO.

"Additionally, our alliance with Al-Futtaim Electric Mobility reinforces our long-term commitment to sustainability as we advance towards a fully electric fleet by 2040.”

Through an alliance, DTC onboarded over 6,000 taxis onto the Bolt platform.

"This initiative significantly enhances digital accessibility and convenience for residents and visitors, aligning with the emirate’s broader vision to transition 80% of taxi trips to e-booking," said a statement. "The move supports its 2025–29 strategy to cement its position as the UAE’s largest taxi operator and a regional transportation leader."

Taxi rides fetched Dh1.05 billion of the Dh1.2 billion DTC made in the first six months, with the rest coming from the limousine, bus and delivery bike services.