TAQA’s Dividend Doubled Year on Year
Proposed cash dividend of 10% vs 5% in 2006
The board of directors of Abu Dhabi National Energy Company PJSC, a publicly listed company on the Abu Dhabi Securities Market (ADSM: TAQA), proposed a 10% dividend
• Proposed cash dividend for 2007 of AED 415million up from AED 207.5million in 2006
• Equivalent to 10 fils per share, up from 5 fils in 2006
• Dividend represents 2.9% yield based on closing share price of AED 3.50 on 16 March 2008
TAQA will hold its annual general meeting on the 16th of April to approve the financial results and the suggested dividend payment.
Peter Barker-Homek, Chief Executive Officer of TAQA, said: “2007 was a dynamic year for TAQA, with our business expanding dramatically into new segments and new geographies, that we are also able to double the dividend that we have generated for our shareholders year on year is a clear endorsement of this strategy.”
