Tabreed, the UAE’s leading international district cooling company, announced a record-high dividend payment of 15.5 fils per share for 2023.
The announcement followed the company shareholders giving their approval for the proposal on Wednesday.
The high dividend payout comes after the company registered a 25 percent jump in its net profit and 9 percent rise in its revenue last year.
Chairman, Khaled Abdullah Al Qubaisi said, and during the meeting shareholders confirmed the appointment of two new board members: Geert Bunkens and Marion Deridder Blondel.
Commenting on Tabreed’s record-setting 2023, Al Qubaisi said the shareholders are a top priority for the company and the business has a stellar reputation for delivering consistently excellent returns for its investors.
Tabreed added 53,000 refrigeration tons [RT] of new connections across its portfolio last year.
The company also added six new plants in 2023.
It now operates in six countries, including India, and sees enormous potential to increase market share over the coming months and years.
Tabreed is also investing heavily in renewable energy and setting new standards in decarbonisation.
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