The General Assembly of Emirates Central Cooling Systems Corporation (Empower) approved yesterday, with an 88.3% quorum, the Board of Directors’ proposal to distribute cash dividends to shareholders for the first half of 2025, totaling AED 437.5 million, at 4.375 fils per share, equivalent to 43.75% of the company’s paid-up capital.

During the meeting, chaired by Chairman Saeed Mohammed Al Tayer, with the presence of Empower CEO Ahmed Bin Shafar and board members, shareholders approved all agenda items and elected the new Board of Directors for the 2025-2028 term, which includes: Saeed Mohammed Al Tayer, Amit Kaushal, Essam Kazem, Fatima Al Rahif, Hussain Lootah, Majid Al Jawker, and Nasser Lootah.

Empower’s results for the first half of 2025 showed outstanding performance with revenues exceeding AED 1.45 billion and net profits of AED 403 million.

Al Tayer said: “The General Assembly’s approval to distribute cash dividends worth AED 437.5 million, representing 43.75% of the paid-up capital, reflects Empower’s continuous success in achieving growing results, supported by a pioneering business model that enhances Dubai’s position as a global destination in district cooling.” He added: “Empower is confidently advancing to strengthen its global leadership as the world’s largest district cooling service provider through proactive expansion plans that meet the increasing demand for its services and elevate the quality provided to its customers.”

Bin Shafar added: “Empower’s strong and continuous growth confirms the robustness of our business model and operational efficiency, driven by increasing demand for district cooling services across various sectors.”