DEWA Approves AED 3.1 Billion Dividend for H2 2024
Dubai Electricity and Water Authority PJSC (DEWA), the exclusive provider of electricity and water services in Dubai, has announced that its shareholders approved a total dividend of AED 3.1 billion for the second half of 2024. The approval took place during the general assembly meeting held on 21 March 2025. The record date for the dividend payment is set for 31 March 2025. DEWA is listed on the Dubai Financial Market (DFM) under the symbol “DEWA” and ISIN AED001801011.
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, Managing Director and CEO of DEWA, along with members of the Board of Directors and 92.2% of DEWA’s shareholders.
During the assembly, shareholders approved a significant dividend payment of AED 3.1 billion for the second half of 2024. The dividend will be paid to shareholders who are invested in DEWA’s shares prior to the record date of 31 March 2025. The Last Entitlement Date for the dividend is set for 27 March 2025, offering a twelve-month dividend yield of 5.0% based on the IPO share price of AED 2.48 per share.
The meeting also included the election of a new Board of Directors, which will serve for the next three years. This decision highlights DEWA’s ongoing commitment to corporate governance and long-term sustainability.
Commitment to Growth and Sustainability
At the meeting, Chairman HE Matar Humaid Al Tayer shared the company’s vision and strategic goals moving forward. He emphasized that DEWA’s commitment to sustainable growth, innovation, and value creation remains strong, noting that the organization continues to invest in future-ready solutions and drive efficiency across its operations. “We remain dedicated to our role as a global leader in clean energy and digital transformation,” he said. “DEWA is not just meeting the growing demand for electricity and water, but we are also pioneering the transition to a cleaner and more sustainable energy future.”
Al Tayer pointed out that the past year demonstrated DEWA’s resilience, adaptability, and forward-thinking approach. The company’s success is reflected through its use of cutting-edge technologies, smart solutions, and world-class governance practices. As a result, DEWA continues to set new benchmarks for operational and financial excellence within the energy sector.
He also highlighted that DEWA’s strong performance is indicative of its strategic ability to manage and adapt to the dynamic challenges of the energy industry. The organization is continuously striving to lead the way in the global transition to clean energy while maintaining a stable and sustainable growth trajectory.
Strong Financial Performance
During the meeting, HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, provided an update on the company’s financial performance for the year. He confirmed that 2024 was another year of strong performance for the DEWA Group. The company reported consolidated full-year revenue of AED 30.98 billion, marking an impressive 6.17% growth compared to the previous year. This increase was driven primarily by rising demand for electricity, water, and cooling services.
In addition to robust revenue growth, DEWA also reported significant profitability, with an EBITDA (earnings before interest, taxes, depreciation, and amortization) of AED 15.73 billion and a net profit after tax of AED 7.23 billion for the year. These results underscore the company’s financial resilience and its ability to generate consistent cash flows, even amid global economic challenges.
Al Tayer expressed confidence that DEWA’s ongoing investment in infrastructure, innovation, and sustainability initiatives will continue to drive the company’s future success. He stressed that DEWA is on track to meet the growing energy needs of Dubai while supporting the Emirate’s long-term sustainability goals.
Focus on Innovation and Clean Energy
As part of its forward-looking strategy, DEWA continues to expand its portfolio of clean and renewable energy projects. The company is dedicated to reducing its carbon footprint and increasing its share of renewable energy in its overall energy mix. DEWA’s efforts in clean energy are aligned with Dubai’s Clean Energy Strategy 2050, which aims to diversify energy sources and increase the share of clean energy in the Emirate’s energy mix to 75% by 2050.
Additionally, DEWA remains at the forefront of digital transformation within the utility sector. The company has implemented advanced technologies such as smart meters, artificial intelligence, and big data analytics to enhance operational efficiency, improve customer service, and optimize resource management. These technological advancements are part of DEWA’s broader efforts to build a sustainable and future-ready infrastructure that can support Dubai’s growing population and economy.
