It's been a good time to be investing in DFM stocks. The index has been doing good, and now, blue-chips are handing out H1-23 dividends. Image Credit: Shutterstock

Dubai: Empower shareholders will get their share of the H1-2023 dividend payout of Dh425 million, with the last entitlement day to be a recipient set at September 27. This works to Dh0.0425 a share and collectively making up 42.5 per cent of the DFM-listed district cooling company.

The Empower Board of Directors has given its approval for the payout, which is ‘in accordance with the dividend policy set out in the prospectus for the public offering’. The stock is trading at Dh1.87, in sight of the 52-week high that was Dh2.02.

After the first-half earnings season, there have been rich takings for shareholders on DFM, with DEWA set to distribute Dh3.1 billion, while Salik rewarded theirs with Dh548 million. The telecom operator du was another to please its investors with Dh589.27 million.

“It’s been a rewarding season for investors on DFM – not only has the index been one of the best performing, some of the blue-chips came out with these dividends,” said an analyst. “Based on today’s price, Empower’s yield works out to 4.5 per cent and DEWA would be 5 per cent plus.

“Along with the announcements made by Abu Dhabi’s utility and energy blue chips after their own H1-23 results, it’s been a few good weeks for investors.”