Dewa’s general assembly clears dividend of Dhs3.1b for H2 of’24

Dubai Electricity and Water Authority (Dewa) reported that its shareholders have, in the general assembly held on Friday, approved the payment of total dividend of Dhs3.1 billion for H2 of 2024, with a record date of 31st March 2025.

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The meeting, chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of Dewa, was attended by Saeed Mohammed Al Tayer, MD&CEO of Dewa and Members of the Board of Directors of Dewa as well as 92.28 of the shareholders. During the meeting, a Board of Directors was elected for the next three years.

Matar Humaid Al Tayer, Chairman of Dewa, said, “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.”

Saeed Mohammed Al Tayer, MD & CEO of DEWA, said, “In 2024, Dewa Group delivered another year of strong performance, reporting consolidated full-year revenue of Dhs30.98 billion, EBITDA of Dhs15.73 billion and net profit after tax of Dhs7.23 billion Our consolidated annual revenue grew by 6.178, primarily driven by rising demand for electricity, water, and cooling services.”

“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 28; the world's lowest water network losses at 4.58; the world's lowest Customer Minutes Lost (CML) of less than one minute per year-setting a global benchmark for reliability,” noted Al Tayer.