The district cooling business Tabreed stated on Wednesday that its shareholders had authorised a dividend payment of 15.5 fils per share, or about Dh441 million, to be paid in full in cash. Through dividends and share price gains, Tabreed has provided a 96% total shareholder return over the last five years. In 2024, the company recorded record revenues and a 32% increase in net profit after taxes.
Dr. Bakheet Al Katheeri, the chairman of Tabreed, presided over the AGA. During the meeting, shareholders also approved the appointments of Janis Rey Lozada and Mansoor Al Hamed as new board members.
Al Katheeri claimed that Tabreed has maintained a strong performance until 2024 as a result of recent wise investments and a well-thought-out strategy for company growth and development. He said, “This is one of the most resilient companies in the UAE and consistently provides investors with excellent returns, and 2024’s dividend payments are no exception.”
With $700 million raised through its first five-year green sukuk and a new joint venture with Dubai Holding to provide sustainable district cooling to Palm Jebel Ali, one of the most attractive real estate projects in the United Arab Emirates, Tabreed has a strong start to 2025. There is a robust pipeline of exciting opportunities ahead, and Tabreed’s balance sheet is stronger than ever. Without a doubt, it continues to be a safe refuge for both current and potential stockholders.
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