Empower General Assembly Meeting approves cash dividend of AED 437.5million for H1 2025 and elects the new Board of Directors for 2025–2028 term

The General Assembly Meeting of Emirates Central Cooling Systems Corporation PJSC (DFM symbol: EMPOWER, ISIN: AEE01134E227), the world’s largest district cooling services provider, was held with a quorum of 88.3%. The meeting approved the Board of Directors’ proposal to distribute cash dividends of AED 437.5 million (4.375 fils per share equivalent to 43.75% of the company’s paid-up capital) to shareholders for the first half of 2025.

HE Saeed Mohammed Al Tayer, Chairman of the Board of Directors, chaired the Meeting, which was convened on Thursday, October 9, 2025, at the Kempinski Central Avenue Hotel in Dubai, and attended by HE 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 elected the new Board of Directors for the 2025–2028 term, consisting of HE Saeed Mohammed Al Tayer, Mr. Amit Kaushal, Mr. Issam Kazim, Ms. Fatma Belrehif ,Mr. Hussain Lootah, Mr. Majed Al Joker, and Mr. Nasser Lootah.

Exceptional Results

Empower reported an outstanding result for the first half of 2025 in August, with revenues amounting to AED 1,453 million and a net profit of AED 403 million. The dividend for the period will be distributed in accordance with the company’s dividend distribution policy.

“We are steadily advancing our sustainable development journey, the foundations of which were laid by the insightful vision of the wise leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness 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 Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, to establish the foundations of a sustainable and diversified economy based on innovation and knowledge. The General Assembly’s approval for a cash dividend distribution of AED 437.5 million, representing 43.75% of the paid-up capital, underscores Empower’s continued success in delivering growing results. This achievement is supported by our pioneering business model, which further enhances Dubai’s position as a global hub for district cooling,” said HE Saeed Mohammed Al Tayer.

“Empower is steadily strengthening its global leadership as the world’s largest district cooling services provider through well-planned proactive expansions that address the growing demand for its services and elevate both the scale and quality of its customer offerings. The company also continues to develop the district cooling infrastructure of Dubai by building next-generation plants distinguished by high energy efficiency and environmental sustainability. These efforts reinforce Empower’s role in conserving natural resources, reducing carbon emissions, and delivering profitable, long-term returns to shareholders, in line with Dubai’s sustainability agenda and its Net Zero targets for 2050,” Al Tayer added.

“Empower’s continued robust growth reaffirms the strength of our business model and operational efficiency, driven by rising demand for district cooling services across multiple sectors. Looking ahead, we will accelerate our expansion plans and invest in cutting-edge technologies that enhance cost-effectiveness and efficiency, while maintaining a balance between delivering attractive returns for shareholders and supporting the national agenda for sustainability and innovation,” said HE Ahmad Bin Shafar.

“Over the past year, Empower has successfully kept pace with Dubai’s rapid economic growth, achieving its objectives and advancing its strategic plans in line with the thriving residential and commercial real estate markets, the dynamic travel and tourism sectors, and the growing entertainment industry. This progress is reflected in the expansion of our diversified project portfolio and the enhancement of service quality for customers across all sectors. We look forward to sustaining this momentum in the coming years, further strengthening the company’s global leadership in the district cooling sector,” he added.