“Embower” general admits dividends of 437.5 million dirhams

The General Assembly of the Emirates Central Cooling Systems (Empower) has approved 89.9% on the proposal of the Board of Directors regarding the distribution of cash dividends for the shareholders, for the second half of 2024, with a total amount of 437.5 million dirhams (at 4.375 money per share, equivalent to 43.75% of the paid capital of the company).

A statement, issued yesterday, stated that the annual general assembly of “Embower” was held on March 19, headed by the Chairman of the Board, Saeed Muhammad Al -Tayer, and in the presence of the CEO of the Foundation, Ahmed bin Shafar, and the members of the Board of Directors of the Foundation.

The General Assembly witnessed the approval of the shareholders on several items listed on the agenda, and the report of the Foundation’s performance and the financial lists for the fiscal year ending in 31 December 2024 was approved.

And the financial results of “Embower” for the past year showed a distinguished performance, by registering record revenues amounting to 3.26 billion dirhams, which is the highest since the list of the institution, while the value of net profits reached 908 million dirhams.

The approved profits will be distributed according to the profit distribution policy in the institution.

Al -Tayer said: “We continue to implement our goals and enhance the criteria for our performance to ensure global leadership in the region’s cooling sector, and our strategic expansions contribute to accelerating the achievement of Dubai’s goals in this vital sector, while achieving sustainable financial returns for our shareholders, where we have followed a unique business model in order to enhance the support of sustainable economy,” stressing the commitment of “Embower” firmly to achieve sustainable returns for its shareholders, supported, supported With favorable government policies. For his part, Bin Shafar stressed that the general situation of the market appears to be very promising, expressing his confidence in the continued strong and sustainable growth of the institution this year and in the coming years, pointing out that the continuous boom in the real estate sector in Dubai is driven by increasing demand, enhances the need for regional cooling services.