Empower Pays Dividends of Dh400 Million in Cash

By District Energy posted 02-24-2021 11:15

  

Al Bawaba

Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced the distribution of AED 400 million in cash dividends among the company's shareholders for the fiscal year ending December 31, 2020. This represents 45% of the total net profit of AED 901 million recorded by the company for the fiscal year. Total revenues of the company amounted to AED 2.26 billion in 2020 with an increase of 3% compared to 2019. Since 2004, the total dividends distributed among shareholders reached AED 2.650 billion.

Results in general, and profits and dividends in particular, reflect how strong and outstanding Empower’s performance is. It also underscores the matchless ability of the company to be the leader in the district cooling industry both locally and globally. All this casts much light on the success Empower has achieved with its proactive strategy that focuses on investing in infrastructure, technology and people; as well as the company’s determination to go on with its goal of building and developing assets that guarantee sustainable revenue and high flexibility, and help meeting the increasing demand for its services.

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