Search DubaiPRNetwork.com

Dubai and UAE

Wednesday, March 26, 2025/ Editor

Home >> Local News and Government

Tabreed's Annual General Assembly Approves AED 441 Million Dividend Payout for FY 2024

Tabreed's Annual General Assembly Approves AED 441 Million Dividend Payout for FY 2024

Home >> Local News and Government
  • Annual General Assembly confirms new appointments to Board of Directors
  • Chairman points to a momentous, transformative 2025
 
Abu Dhabi, United Arab Emirates – 26 March 2025: Tabreed, the world's leading district cooling company, yesterday held its Annual General Assembly (AGA). In recognition of the company's strong financial and operational performance throughout 2024, shareholders approved a dividend payment of 15.5 fils per share, representing more than AED 441 million, to be paid fully in cash.
Over the past five years, Tabreed has delivered total shareholder return of 96% in the form of share price increases and dividends and, during 2024, the company reported record revenues and a 32% increase in net profit after tax.
The AGA was chaired by Tabreed's Chairman, Dr Bakheet Al Katheeri, and during the meeting shareholders also confirmed the appointments of new board members, Mansoor Al Hamed and Janis Rey Lozada.
Al Katheeri said that Tabreed had performed consistently well throughout 2024, reaping the benefits of prudent recent investments and a considered approach to business development and expansion. 'This is one of the UAE's most resilient companies,' he remarked, 'and delivers excellent returns for its investors year after year, with 2024's dividend payments no exception.
'Tabreed has entered 2025 with impressive momentum, already having raised $700 million via its inaugural, five-year green sukuk, and entering a new joint venture with Dubai Holding to supply sustainable district cooling to one of the UAE's most exciting real estate projects, Palm Jebel Ali. Tabreed's balance sheet is stronger than ever and there is a strong pipeline of promising opportunities ahead. It undoubtedly remains a safe haven for existing and future shareholders alike.'
During 2024 Tabreed completed two new plants and added 23,576 Refrigeration Tons [RTs] of new connections across the company's portfolio, in the UAE, Saudi Arabia, Oman, Egypt and India. Tabreed also saw consumption volumes grow during 2024, increasing by 5% to 2.66 billion refrigeration ton hours (RTH).
 

 

Share


Next in Local News and Government


Home >> Local News and Government Section

Latest Press Release

Return to Ritual: Celebrate Self-Care Month with BUFARMA Skincare

Dubai Government Human Resources Department organises 2nd Human Resources Forum of 2025 to discuss e ...

Dubai Customs and Dubai Police: A strategic partnership to protect the homeland and to promote stabi ...

Rediscover family shopping days: REDTAG opens its doors in Al Ain

Dubai Culture Launches Open Call for 14th Sikka Art & Design Festival

Summer Restaurant Week Returns This DSS with Over 65 Exclusive Dining Deals Across Dubai

Julien Calloud Appointed CEO of SAVOYE to Lead a New Era of Performance and Innovation

Zoho Powers Up CRM for Everyone Platform with AI to Elevate Customer Experience

Media's Role in the Age of Algorithms By HH Sheikha Latifa bint Mohammed bin Rashid Al Maktoum

VinFast VF 8: The Premium Electric SUV Empowering a New Generation of Entrepreneurs in the UAE

Enter the Jurassic Era at VOX Cinemas

NYUAD Researchers Find Link Between Brain Growth and Mental Health Disorders

Emirates reit reports a strong Q1 2025 with 24% increase in property income

Impressive Emirati Victory at Inaugural Snow Duathlon in Ski Dubai with 209 Athletes from 49 Countri ...

Dubai Land Department encourages Emirati citizens to join the Dubai Real Estate Broker Programme

Tabreed and CVC DIF to acquire Abu Dhabi's PAL Cooling from Multiply Group

UAE Team Emirates-XRG take home five National Championship victories

Porsche Centre Abu Dhabi & Al Ain Leads Region with First Manthey Kit Installation on 911 GT3 RS

“Redefining University Leadership for the Future” Held as Part of the Sixth Conference of University ...

Dubai Summer Surprises 2025 Starts Today With Over 7,500 Offers, Free Things to Do, and the Season's ...