DEWA’s general assembly approves dividend payment of AED 3.1 billion to shareholders for H2 of 2024

Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), reported that its shareholders have, in the general assembly held today (21 March 2025), approved the payment of total dividend of AED 3.1 billion for H2 of 2024, with a record date of 31 March 2025.

General Assembly Details

The meeting, chaired by HE Matar Humaid Al Tayer, Chairman of the Board of Directors of DEWA, was attended by HE Saeed Mohammed Al Tayer, MD&CEO of DEWA and Members of the Board of Directors of DEWA as well as 92.2% of the shareholders. During the meeting, a Board of Directors was elected for the next three years. The assembly was held at Kempinski The Boulevard Hotel in Dubai as well as virtually.

Attractive Dividend Yield

For shareholders who are invested in DEWA’s shares prior to the dividend record date of 31 March 2025 (with a Last Entitlement Date of 27 March 2025), the next twelve-month dividend yield is 5.0% with reference to IPO share price of AED 2.48 per share.

Quotes

"Under the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai continues to consolidate its position as a global leader in economic growth, sustainability and innovation. At DEWA, we take great pride in being a key pillar of this success, ensuring that the energy and water infrastructure keeps pace with the rapid growth Dubai is witnessing. Our commitment to sustainable growth, innovation and value creation remains stronger than ever.

We continue to drive efficiency, invest in future-ready solutions and strengthen our role as a global leader in clean energy and digital transformation. We are not only meeting the increasing demand for electricity and water but also pioneering the transition towards a cleaner and more sustainable energy future. The past year is a testament to DEWA’s resilience, adaptability and forward-thinking approach. Through cutting-edge technologies, smart solutions, and world-class governance, DEWA continues to set new benchmarks in operational and financial excellence,” said HE Matar Humaid Al Tayer, Chairman of DEWA.

HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, said: “Thanks to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, DEWA remains steadfast in its commitment to excellence, sustainability and long-term growth.

In 2024, DEWA Group delivered another year of strong performance, reporting consolidated full-year revenue of AED 30.98 billion, EBITDA of AED 15.73 billion and net profit after tax of AED 7.23 billion Our consolidated annual revenue grew by 6.17%, primarily driven by rising demand for electricity, water, and cooling services.”

Al Tayer explained that by the end of 2024, DEWA’s installed electricity generation capacity reached 17,179 MW, of which 3,060 MW came from clean energy sources, while water production capacity stood at 495 MIGD. DEWA remains committed to sustainability, operational efficiency and excellence across all aspects of its business, reinforcing its commitment to net-zero by 2050.

“DEWA’s network now serves over 1.27 million customer accounts, and we take pride in achieving the world’s lowest electricity line losses at 2%; the world’s lowest water network losses at 4.5%; the world’s lowest Customer Minutes Lost (CML) of less than one minute per year—setting a global benchmark for reliability. Leveraging digitalisation and AI-driven technologies, we continue to enhance operational efficiency, elevate customer experience and establish new milestones in smart infrastructure. As a result, DEWA is ranked first globally in 12 key utility operating benchmarks,” added Al Tayer.

“I am optimistic about our outlook for 2025, driven by the continued growth in tourism, residential, commercial and industrial demand; the expanding active daytime population in Dubai; and opportunities for business expansion and infrastructure development. We look ahead with determination and optimism to deliver on all our strategic initiatives, generate strong earnings, promote Dubai’s image as a global hub of sustainability and excellence and enhance the wellbeing of our community and all our stakeholders,” Al Tayer concluded.