Dubai, UAE — UAE district cooling company Tabreed will pay a cash dividend of 13.5 fils per share for 2022, which is the company’s highest dividend payment in its 25-year history.
The dividend marks an increase of 1.5 fils per share on the 12 fils per share equivalent paid to shareholders in 2022.
The record dividend was formally approved at Tabreed’s Annual General Assembly (AGA), chaired by Chairman Khaled Abdullah Al Qubaisi on Monday.
Tabreed also used the AGA to elect its board of directors in accordance with the three-year requirement set out in SCA regulations. Eight of the existing board members have been re-elected and shareholders confirmed the appointment of one new board member, Dr Alyazia Ali Al Kuwaiti, to the Board of Directors.
Khalid Abdulla Al Marzooqi, Tabreed’s Chief Executive Officer, said the company’s group revenue last year increased by 13 percent to AED 2.22 billion and EBITDA rose by 19 percent to AED1.23 billion.
Tabreed said it added nearly 55,000 refrigeration tons of new connections in the UAE and across the region.
