Abu Dhabi: Tabreed, the world's leading district cooling company, approved a cash dividend of 15.5 fils per share, totaling over AED441 million, to be paid fully in cash, during its Annual General Assembly on Tuesday.
According to Emirates News Agency, over the past five years, Tabreed has delivered a total shareholder return of 96 percent in the form of share price increases and dividends. During 2024, the company reported record revenues and a 32 percent increase in net profit after tax.
The AGA was chaired by Tabreed's Chairman Dr. Bakheet Al Katheeri, and during the meeting, shareholders also confirmed the appointments of new board members, Mansoor Al Hamed and Janis Rey Lozada. Al Katheeri stated that Tabreed had performed consistently well throughout 2024, benefiting from recent investments and a strategic approach to business development and expansion. He emphasized that Tabreed is one of the UAE's most resilient companies, consistently delivering returns for its investors, with 2024's dividend payments being no exception.
Tabreed has entered 2025 with strong momentum, having raised $700 million via its inaugural, five-year green Sukuk, and entering a joint venture with Dubai Holding to supply sustainable district cooling to a major real estate project, Palm Jebel Ali. The company's balance sheet is in a robust state, and there are promising opportunities on the horizon.
During 2024, Tabreed completed two new plants and added 23,576 Refrigeration Tons (RTs) of new connections across its portfolio in the UAE, Saudi Arabia, Oman, Egypt, and India. The company also saw consumption volumes grow during 2024, increasing by 5 percent to 2.66 billion refrigeration tonne hours (RTH).