Amman: The General Assembly of Emirates Central Cooling Systems Corporation (Empower) has approved the Board of Directors’ proposal to distribute cash dividends amounting to AED437.5 million for the first half of 2025. This decision translates to a dividend of 4.375 fils per share, equivalent to 43.75 percent of the company’s paid-up capital.
According to Emirates News Agency, the meeting, held on Thursday, was chaired by Saeed Mohammed Al Tayer, Chairman of the Board of Directors. It was attended by Ahmad bin Shafar, CEO, along with other board members. During the assembly, shareholders also approved various agenda items and elected a new Board of Directors for the term of 2025-2028. The newly elected board includes notable figures such as Saeed Mohammed Al Tayer, Amit Kaushal, Issam Kazim, Fatma Belrehif, Hussain Lootah, Majed Al Joker, and Nasser Lootah.
Empower’s financial performance for the first half of 2025, reported in August, highlighted revenues of AED1,453 million and a net profit of AED403 million. The cash dividend distribution aligns with the company’s established dividend distribution policy. Al Tayer expressed that the dividend approval reflects Empower’s ongoing success and its innovative business model, reinforcing Dubai’s status as a global leader in district cooling.
