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Dubai Electricity and Water Authority (DEWA) reported its highest-ever financial results for the first nine months of 2024, with a record revenue of AED 23.5 billion, marking a 6.2% increase from the previous year. The company also achieved a record EBITDA of AED 11.8 billion, up 4.71%, and cash from operations of AED 11.6 billion, up 17.83%. DEWA paid AED 3.1 billion in dividends to shareholders in October 2024. The results reflect DEWA's commitment to operational excellence, innovation, and sustainability, in alignment with Dubai's strategic goals for clean energy and net-zero carbon emissions by 2050.
On 11 November 2024, the Board of Directors of Dubai Electricity and Water Authority PJSC (DEWA) held a meeting at 9:00 am. During this meeting, they approved the company's financial statements for the third quarter ending on 30 September 2024. The Board also reviewed general business matters. The notification was issued by Aakash Nijhawan, Group Head of Investor Relations, on behalf of DEWA.
Resolution No. 519 of 2024 announces the temporary suspension of trading for the shares of Abu Dhabi National Co. for Building Materials (BILDCO) on the Abu Dhabi Securities Exchange (ADX). This suspension will start at 14:00 on November 14, 2024, coinciding with the company's Board of Directors meeting, and will remain in effect until ADX receives the meeting results. The resolution mandates all ADX department heads to implement the necessary actions within their areas of responsibility and requires the resolution to be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by an authorized person and issued on November 11, 2024.