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Empower approves cash dividend of AED500 million to its shareholders

By District Energy posted 03-17-2022 10:22


Emirates Press Release


Emirates Central Cooling Systems Corporation (Empower) has announced a dividend of AED500 million to its shareholders for the fiscal year ending on 31st December, 2021.

The dividend payout represents 53.4 percent of the AED936 million, the total net profit achieved by Empower for the last fiscal year that increased by 4 percent compared to 2020.

The company has also reported total revenue of AED2.464 billion in the same year, increasing 9.3 percent compared to 2020. The total dividends to shareholders amounted to AED3.15 billion since its inception in 2004, Empower said.

Ahmad bin Shafar, CEO of Empower, said, "Empower's performance and its financial results in general, and the profits achieved in particular, reflect its outstanding leadership in the district cooling industry locally and globally. At the same time, it highlights the effectiveness of its proactive strategy to maximise its investments in district cooling infrastructure by developing assets that guarantee sustainable revenues and higher flexibility to keep pace with the increasing demand."

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