The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has announced that it has paid AED400 million as dividends to its shareholders, from the profit of the company for the year ended on December 31, 2017. The company has earlier declared a net profit of AED 772mn in 2017, an increase of 20% over the year 2016. Empower’s total revenues in 2017 reached AED1.96bn, an increase of 6.1% compared to the previous year. “We are proud to declare and pay a significant amount of dividends to shareholders in 2017, which is made possible through various positive factors, including a robust strategy and its effective implementation,†said CEO Ahmad bin Shafar.