Dewa reports record Dhs30.98 billion revenue

Dubai Electricity and Water Authority (Dewa) on Tuesday reported its full year 2024 preliminary and unaudited consolidated financial results. Dewa Group recorded consolidated full year revenue of Dhs30.98 billion, Ebitda of Dhs15.70 billion and net profit after tax of Dhs7.24 billion. For Q4, 2024, Dewa Group reported revenue of Dhs7.45 billion, Ebitda of Dhs3.95 billion and net profit after tax of Dhs1.76 billion.

As per Dewa’s dividend policy, the company expects to pay a minimum annual dividend of Dhs6.2 billion in the first five years starting October 2022. The dividends are paid semi-annually in April and October. On 31st October 2024, Dewa distributed Dhs3.1 billion as dividend for H1, 2024 to its shareholders, based on a record date of 18 October 2024. The upcoming dividend of Dhs3.1 billion for H2, 2024 is expected to be distributed in April 2025, subject to approval by Dewa’s shareholders at the annual general assembly. The issuance of invitations to Dewa’s upcoming annual general assembly is subject to approval by the Securities and Commodities Authority of the UAE, according to a company statement issued today.

“We are committed to the high standards of excellence and sustainability inspired by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of 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 Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE. With their guidance, Dewa will continue to play a decisive role in Dubai’s rapid progress,” said Saeed Mohammed Al Tayer, MD & CEO of Dewa.

WAM