DEWA Shareholders Okay $840 Million in Dividend for H2-2024

The shareholders of Dubai Electricity and Water Authority (DEWA), Dubai’s exclusive electricity and water services provider, which is listed on the Dubai Financial Market (DFM), on Friday approved the payment of total dividend of $840 million for H2 of 2024, with a record date of 31 March 2025.

At its annual general meeting, which was chaired by DEWA Chairman Matar Humaid Al Tayer, and company’s MD and CEO Saeed Mohammed Al Tayer, and Board directors, the shareholders also elected a new Board of Directors for the next three years.

For shareholders who have 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% with reference to IPO share price of $0.68 per share.

Addressing the meeting, Matar Humaid Al Tayer said that under the visionary leadership of H H Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai continued to consolidate its position as a global leader in economic growth, sustainability and innovation.

He said that they were proud to be a key pillar of this success, ensuring that the energy and water infrastructure keeps pace with the rapid growth Dubai has been witnessing. DEWA’s commitment to sustainable growth, innovation and value creation remains stronger than ever.

He said that DEWA continues to drive efficiency, invest in future-ready solutions and strengthen its role as a global leader in clean energy and digital transformation. The company was not only meeting the increasing demand for electricity and water but also pioneering the transition towards a cleaner and more sustainable energy future.

“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,” DEWA Chairman added.

Committed to Excellence

Saeed Mohammed Al Tayer said that DEWA remained steadfast in its commitment to excellence, sustainability and long-term growth. In 2024, DEWA Group delivered another year of strong performance, reporting consolidated full-year revenue of $8.43 billion, EBITDA of $4.23 billion and net profit after tax of $1.97 billion

“Our consolidated annual revenue grew by 6.17%, primarily driven by rising demand for electricity, water, and cooling services,” he explained.

Al Tayer said 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 said that DEWA’s network serves over 1.27 million customer accounts, and they were proud that in achieving the world’s lowest electricity line losses at 2%; the world’s lowest water network losses at 4.5%; the world’s lowest Customer Minutes Lost (CML) of less than one minute per year—setting a global benchmark for reliability.

Leveraging digitalisation and AI-driven technologies, the company continues to enhance operational efficiency, elevate customer experience and establish new milestones in smart infrastructure. As a result, DEWA is ranked first globally in 12 key utility operating benchmarks, he said.

“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.