The National Central Cooling Company (Tabreed) has said it will release its highest ever dividend to its shareholders for 2021.
The firm said the shareholders will get a cash dividend of six fils per share and a bonus of one share for every 40 shares held, which is equivalent to 12 fils per share.
“This is the highest ever dividend payment… and represents an increase on the previous year which reflects the growth of the business,” Tabreed said in a statement to the Dubai Financial Market (DFM).
The company’s chairman, Khaled Abdulla Al Qubaisi, said that 2021 was a “stellar year”, which saw Tabreed expand its business through organic growth and acquisitions.
“As we look ahead, we will continue to invest in our business,” he added.
Last year, group revenue increased by 12 percent to 1.95 billion dirhams ($530 million), while net income grew 6.3 percent to 585 million dirhams, Tabreed said. The company added 40,495 Refrigeration Tons (RT) of new customer connections.