Sun 11-09-2022 11:48 AM
DUBAI, 11 September 2022 (WAM) — Dubai Power and Water Authority PJSC (DEWA or Company), the exclusive power and water service provider of the Emirate of Dubai, listed on the Dubai Financial Market (DFM) announced the following: Our first general meeting of shareholders will be held physically and virtually on Monday, October 10, 2022.
The General Assembly will vote on the Board’s recommendation for a cash dividend distribution of AED 3.1 billion (AED 6.2 fils per share) for the first half of 2022. This will be paid out to our eligible shareholders in October 2022. The general meeting will also vote on the board’s recommendation to suspend further profit distributions to the statutory reserve as the company’s statutory reserve currently exceeds his 50% of the company’s share capital.
A shareholder entitled to attend a general meeting of shareholders may authorize a person other than a member of the board of directors, a company, a securities firm, or an employee thereof to attend pursuant to a written power of attorney. The proxy has the right to attend the general meeting and vote on its decisions. A delegated person of a majority shareholder shall not exceed (5%) of the company’s issued capital after obtaining its mandate. Persons without legal capacity and incapacity must be represented by a legal representative.
Dubai Power and Water Authority PJSC reported revenue of AED 12.08 billion and net profit of AED 3.33 billion in the first half of 2022.
WAM/Tariq Alphaham
