Dubai Electricity and Water Authority (Dewa), Emirate of Dubai’s exclusive electricity and water services provider, has announced that the company’s first general assembly meeting will vote on the recommendation of Board of Directors concerning a cash dividend distribution of AED3.1 billion (AED6.2 fils per share) for the first half of 2022. 

 

This is intended to be paid to the company’s eligible shareholders in October 2022. 

 

The assembly, to be held will be held physically and virtually on October 10, will also vote on the recommendation of the Board to suspend any further allocation of profit towards legal reserve as the company’s legal reserve is currently in excess of 50% of the share capital of the company.

 

Dubai Electricity and Water Authority reported revenues of AED12.08 billion and net profit of AED3.3 billion in the first half 2022.