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Empower AGM approves Dh437.5 million cash dividend for after record profit in 2025
Empower’s consistent profitability reflects the strength of its business model and the efficiency of its operational strategies: Saeed Mohammed Al Tayer
- PUBLISHED: Thu 2 Apr 2026, 4:03 PM
The annual general meeting (AGM) of the Emirates Central Cooling Systems Corporation PJSC (Empower), the world’s largest district cooling services provider, held with a quorum of 85 per cent of the company’s paid-up share capital, approved the board of directors’ proposal to distribute cash dividends of Dh437.5 million (4.375 fils per share equivalent to 43.75 per cent of the company’s paid-up capital) to shareholders for second half of the year 2025.
The AGM was held on March 26, 2026, chaired by Saeed Mohammed Al Tayer, chairman of the board of directors, and attended by Ahmad bin Shafar, CEO, along with members of the board of directors of Empower. During the meeting, the company’s shareholders approved various items on the agenda and ratified the company’s performance report and financial statements for the fiscal year ended December 31, 2025.
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Empower, which is listed on the Dubai Financial Market, recently reported record financial results for the year ended December 31, 2025. The company recorded revenues of Dh3.42 billion during 2025, the highest since its listing, with net profit after tax reaching Dh1.004 billion, while EBITDA rose to Dh1.65 billion. The approved dividends will be distributed in accordance with Empower’s dividend distribution policy.
In 2025, Empower distributed cash dividends of Dh875 million in two equal installments of Dh437.5 million each in April and October. This distribution comes in line with its commitment to distribute Dh875 million annually in dividends to shareholders.
Saeed Mohammed Al Tayer, Chairman of Empower, said: “In line with the vision of the wise leadership of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence and Chairman of the Executive Council of the Emirate of Dubai, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, to raise the economic and service levels of the Emirate, Empower achieved record revenues of Dh3.42 billion with unprecedented net profits of Dh1.004 billion for the year 2025, while profits before interest, taxes, depreciation and amortisation increased to Dh1.65 billion, reflecting our ability to maintain strong profit margins through operational efficiency. These achievements are a testament to the development efforts undertaken by the company to expand its services and enhance its efficiency across the Emirate of Dubai.”
“Empower’s strong performance reflects the strength of its business model and the efficiency of its operational strategies, underscoring its ability to deliver sustainable value to shareholders. The company continues to strengthen its position as a key partner in developing Dubai’s district cooling ecosystem by expanding its services and enhancing operational efficiencies. Empower also focuses on developing its district cooling infrastructure and adopting the latest global technologies in this field, ensuring the delivery of reliable and highly efficient services that support the company’s sustainable growth and reinforce its role in the emirate’s urban development,” added Al Tayer.
He also reaffirmed shareholders’ confidence in Empower’s strategies and future plans, reiterating the company’s commitment to well-planned development initiatives and to advancing its focus on delivering consistent performance that ensures sustainable long-term success.
“Empower draws inspiration for its expansion and development from Dubai’s continuous progress and the emirate’s ongoing development journey. Under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the emirate has witnessed a construction boom that has opened broad opportunities for investment and business growth. This momentum has led to increased demand for district cooling and energy services, creating new investment opportunities in the utilities sector. Empower has responded to this demand through expansion projects and the development of innovative service solutions to ensure reliability and high efficiency. The company has achieved notable success in fulfilling this role, reflected in another successful year that contributes to opening new horizons for investment and development in the future,” said Bin Shafar.