Latest / DEWA Podcasts / Empower Annual General Meeting approves cash dividends of AED 437.5 million supported by the company's strong performance

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Empower Annual General Meeting approves cash dividends of AED 437.5 million supported by the company's strong performance · DEWA Podcasts

• 0:00
  Welcome to The Closing Bell. We're starting today
• 0:02
  in Dubai, where Emirates Central Cooling Systems
• 0:05
  Corporation, you know them better as Empower,
• 0:08
  they just held their annual general meeting.
• 0:11
  And Corey, I mean, the major takeaway for investors
• 0:15
  was, well, certainly positive. Absolutely, Aljaneeb.
• 0:19
  The board approved a cash dividend of, get this,
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  437 .5 million durhams for just the second half
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  of 2025. This is all consistent with their promise,
• 0:30
  you know, to distribute 875 million durhams annually.
• 0:35
  Right, the promise. And it's a policy that's
• 0:38
  clearly supported by their just record -breaking
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  2025 performance. Wow. And those performance
• 0:44
  numbers, they are definitely worth highlighting.
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  For the year ended December 31st, 2025. Yeah?
• 0:50
  Empower posted record revenues of 3 .42 billion
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  dirhams and, get this, a net profit crossing
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  the billion dirham mark for the very first time.
• 1:01
  It's a performance that really speaks to a robust
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  strategy. The chairman, His Excellency Saeed
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  Mohammed Altair, he put it so succinctly in his
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  earlier remarks. He said, and I'm quoting here,
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  Empower's consistent profitability reflects the
• 1:16
  strength of its business model and the efficiency
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  of its operational strategies. Yeah, and during
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  the meeting, he actually expanded on that. He
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  stated, Empower's strong performance reflects
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  the strength of its business model and the efficiency
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  of its operational strategies. Okay. Underscoring
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  its ability to deliver sustainable value to shareholders.
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  And then he went on. The company continues to
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  strengthen its position as a key partner in developing
• 1:42
  Dubai's district cooling ecosystem. Right. The
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  ecosystem. By expanding its services and enhancing
• 1:49
  operational efficiencies. And that connection
• 1:51
  to Dubai's development, that's just so crucial.
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  The CEO, His Excellency Ahmed bin Shafar, he
• 1:58
  also commented on this symbiotic relationship
• 2:01
  between the city's growth and the company's.
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  He said, and I'm quoting here, Dubai has witnessed
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  a construction boom that has opened broad opportunities
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  for investment and business growth. Right. A
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  massive boom. Exactly. This momentum has led
• 2:16
  to increased demand for district cooling and
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  energy services. And creating new investment
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  opportunities in the utility sector. So the story
• 2:26
  is pretty clear, right? You have a booming city
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  creating this immense demand, and then you have
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  a highly efficient, world -leading provider like
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  Empower just perfectly positioned to meet it,
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  and in turn, delivering exceptional value back
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  to its shareholders. I mean, it's a textbook
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  case of astrology meeting opportunity. Now, here's
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  a question maybe for our listeners to think about.
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  As cities worldwide continue to grow and, you
• 2:52
  know, face rising temperatures. Yeah. Just how
• 2:55
  critical will utility models like district cooling
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  become? And not just for investor returns, but
• 3:01
  for, well, for sustainable urban living itself.