Dubai - Mubasher: The annual general assembly meeting of National Central Cooling Company (Tabreed) has approved a dividend payment of 15.50 fils per share, exceeding AED 441 million, for 2024.
Over the past five years, Tabreed has delivered a total shareholder return of 96% in the form of share price increases and dividends, according to a press release.
At the end of December 2024, the company achieved record revenues and a 32% increase in net profit after tax.
Tabreed’s Chairman, Bakheet Al Katheeri, commented: “Tabreed has entered 2025 with impressive momentum, already having raised $700 million via its inaugural, five-year green sukuk, and entering a new joint venture with Dubai Holding to supply sustainable district cooling to one of the UAE’s most exciting real estate projects, Palm Jebel Ali.”
“Tabreed’s balance sheet is stronger than ever, and there is a strong pipeline of promising opportunities ahead. It undoubtedly remains a safe haven for existing and future shareholders alike,” Al Katheeri stated.
During 2024, Tabreed completed two new plants and added 23,576 refrigeration tonnes [RTs] of new connections across the company’s portfolio, in the UAE, Saudi Arabia, Oman, Egypt and India.
Tabreed recorded a 5% growth in consumption volumes to 2.66 billion refrigeration ton hours (RTH).
