Since its listing on the Dubai Financial Market (DFM) in November 2022, Emirates Central Cooling Systems Corporation PJSC (Empower) has reiterated its commitment to paying dividends to shareholders on a regular basis, twice a year. The company said in a statement on Monday that it had paid out Dhs 2.575 billion in dividends to shareholders during the previous three years. Empower’s CEO, Ahmad Bin Shafar, stated that the company’s increasing profit results demonstrate the effectiveness of its business expansion and innovation strategy and underline its dedication to accomplishing the goals it had communicated to the shareholders.
He continued by saying that the development of projects within Empower’s business portfolio and the quickening growth in their operational efficiency have coincided with the rise in profitability. A Dhs850 million cash dividend for shareholders was agreed by Empower’s General Assembly in 2023. The dividend will be distributed in two equal installments of Dhs425 million in April and October. The company’s pledge to pay dividends twice a year for the first two fiscal years after its listing on the Dubai Financial Market was satisfied by this payout.
Similar cash dividends of Dhs850 million were paid out by the corporation in two equal installments of Dhs425 million in April and October of the second fiscal year, 2024. A dividend of Dhs875 million for 2025, given in two equal installments of Dhs437.5 million in April and October, was authorized by shareholders.
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