Dubai, UAE — UAE leading district cooling company Tabreed’s Annual General Assembly has approved a record high cash dividend of 15.5 fils per share.
As disclosed in the company’s recent full-year results for 2023, this represents an increase of 15 percent over the previous year.
During 2023, Tabreed reported a growth of 9 percent in revenue to AED 2.4 billion and an increase of 25 percent to AED751 million in net profit before tax to parent.
Tabreed’s AGA also confirmed the appointment of two new board members: Geert Bunkens and Marion Deridder Blondel.
Tabreed Chairman Khaled Abdullah Al Qubaisi said, “Our shareholders are a top priority for Tabreed and the business has a stellar reputation for delivering consistently excellent returns for our investors. We have just enjoyed another remarkable year and our name as a torchbearer for sustainability is growing, with Tabreed playing a decisive role in steering the conversation about global cooling during COP28.”
Tabreed now operates in six different countries, including India, and sees enormous potential to increase market share over the coming months and years.
