TAQA to recommend AED5.3 billion in total dividends for 2021

TAQA to recommend AED5.3 billion in total dividends for 2021

WAM: Abu Dhabi National Energy Company (TAQA) on Wednesday announced that it will recommend to its shareholders to approve a special dividend payment of AED2.2 billion (2.00 fils per share) in addition to the final payment of AED1.2 billion (1.10 fils per share).

This comes on top of the AED1.9 billion (1.65 fils per share) already paid in quarterly dividends. Altogether, it means that the total dividend payments to shareholders will be AED5.3 billion (4.75 fils per share) for the financial year 2021, a company statement said Wednesday.

This total exceeds its expected payment outlined in the company’s dividend policy, with the increase reflecting the solid financial performance in 2021.

In February, TAQA reported its consolidated financial results for the year ended 31st December 2021, with net income increasing to AED6.0 billion. The strong financial results were underpinned by its utilities business and boosted by the strong recovery in commodity prices.