The Dubai Electricity and Water Authority (DEWA) announced today that its shareholders have approved the payment of a total dividend of AED3.1 billion ($844 million) for H2 of 2024, with a record date of March 31, 2025.
“For shareholders who are invested in DEWA’s shares prior to the dividend record date of 31 March 2025 (with a Last Entitlement Date of 27 March 2025), the next twelve-month dividend yield is 5.0 percent with reference to IPO share price of AED2.48 per share,” said DEWA.
The meeting, chaired by Matar Humaid Al Tayer, chairman of the board of directors of DEWA, also saw the election of a new board of directors for the next three years.
“The past year is a testament to DEWA’s resilience, adaptability and forward-thinking approach. Through cutting-edge technologies, smart solutions, and world-class governance, DEWA continues to set new benchmarks in operational and financial excellence,” said Matar Humaid Al Tayer.
DEWA’s revenues hit AED30.98 billion
In 2024, DEWA Group delivered another year of strong performance, reporting consolidated full-year revenue of AED30.98 billion, EBITDA of AED15.73 billion, and net profit after tax of AED7.23 billion. The company’s consolidated annual revenue grew by 6.17 percent, primarily driven by rising demand for electricity, water and cooling services.
Saeed Mohammed Al Tayer, MD & CEO of DEWA, explained that by the end of 2024, DEWA’s installed electricity generation capacity reached 17,179 MW, of which 3,060 MW came from clean energy sources, while water production capacity stood at 495 MIGD. He added that DEWA remains committed to sustainability, operational efficiency and excellence across all aspects of its business, reinforcing its commitment to net zero by 2050.
Read: Aramco launches Saudi Arabia’s first carbon dioxide direct air capture test unit
DEWA achieves world’s lowest electricity line losses at 2 percent
Al Tayer added that DEWA’s network now serves over 1.27 million customer accounts. The company also achieved the world’s lowest electricity line losses at 2 percent; the world’s lowest water network losses at 4.5 percent; the world’s lowest Customer Minutes Lost (CML) of less than one minute per year—setting a global benchmark for reliability.
“I am optimistic about our outlook for 2025, driven by the continued growth in tourism, residential, commercial and industrial demand; the expanding active daytime population in Dubai; and opportunities for business expansion and infrastructure development. We look ahead with determination and optimism to deliver on all our strategic initiatives, generate strong earnings, promote Dubai’s image as a global hub of sustainability and excellence and enhance the wellbeing of our community and all our stakeholders,” Al Tayer concluded.
