Diwa General Approved distribution of profits of 3.1 billion dirhams

The Dubai Electricity and Water Authority (Diwa), which is listed in the Dubai Financial Market, announced the approval of the company’s shareholders to pay a total profit of 3.1 billion dirhams for the second half of 2024, for the shares registered on March 31, 2025, noting that this was approved in the annual general assembly of the authority held yesterday.

The commission stated in a statement, that the General Assembly meeting was held chaired by the Chairman of the Board of Directors of the Dubai Electricity and Water Authority, Matar Hamid Al -Tayer, in the presence of the Managing Director, CEO of the Authority, Saeed Mohammed Al -Tayer, and members of the Board of Directors of the Authority and 92.2% of the shareholders, pointing out that during the meeting the board of directors was elected for the next three years.

The statement pointed out that for the shareholders who invest in the shares of the Dubai Electricity and Water Authority before the date of profit distributions record on March 31, 2025 (with the last date of due on March 27, 2025), the rate of return during the next 12 months is 5% on the basis of the stock price at the time of the first public subscription at a value of 2.48 dirhams per share.

Matar Hamid Al -Tayer said, “Dubai continues to consolidate its pioneering position globally in economic growth, sustainability and innovation, and in the Dubai Electricity and Water Authority, we are proud to be an essential part of this success, as the authority plays a pivotal role in ensuring the readiness of energy and water infrastructure to support the rapid development process in Dubai.”

For his part, Saeed Mohammed Al -Tayer said: “In 2024, the Dubai Electricity and Water Authority group achieved a strong performance, as it recorded an assembled revenue of 30.98 billion dirhams, profits before interest, taxes, depreciation and debt consumption of 15.73 billion dirhams, and net profits after the tax at a value of 7.23 billion dirhams.”

He added that «the authority provides its services to more than 1.27 million customer accounts», expressing pride in achieving the lowest rate in the electricity network worldwide by 2%, the lowest rate lost in the water network worldwide by 4.5%, and the lowest period of electricity interruption in the world at a rate of less than one minute annually per subscriber.

He expressed optimism about the horizons of 2025, which is strengthened by the continued growth of tourist, residential, commercial, and industrial sectors, in addition to the increasing number of people in Dubai during daylight hours, and opportunities for business expansion and infrastructure development.

Saeed Al -Tayer:

. Optimistic about the horizons of 2025, which is enhanced by the continued growth of tourist, residential, commercial and industrial sectors, as well as the increasing number of people in Dubai.