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DEWA’s general assembly approves dividend payment of AED3.1 billion to shareholders for H2 of 2024

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 DUBAI, 21st March, 2025 (WAM) -- Dubai Electricity and Water Authority (DEWA) reported that its shareholders have, in the general assembly held today, approved the payment of total dividend of AED3.1 billion for H2 of 2024, with a record date of 31st March 2025.


 The meeting, chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of DEWA, was attended by Saeed Mohammed Al Tayer, MD&CEO of DEWA and Members of the Board of Directors of DEWA as well as 92.2% of the shareholders. During the meeting, a Board of Directors was elected for the next three years.


 Matar Humaid Al Tayer, Chairman of DEWA, said, "Dubai continues to consolidate its position as a global leader in economic growth, sustainability and innovation. At DEWA, we take great pride in being a key pillar of this success, ensuring that the energy and water infrastructure keeps pace with the rapid growth Dubai is witnessing.”


 Saeed Mohammed Al Tayer, MD & CEO of DEWA, said, “In 2024, DEWA Group delivered another year of strong performance, reporting consolidated full-year revenue of AED30.98 billion, EBITDA of AED15.73 billion and net profit after tax of AED7.23 billion Our consolidated annual revenue grew by 6.17%, primarily driven by rising demand for electricity, water, and cooling services.”


 “DEWA’s network now serves over 1.27 million customer accounts, and we take pride in achieving the world’s lowest electricity line losses at 2%; the world’s lowest water network losses at 4.5%; the world’s lowest Customer Minutes Lost (CML) of less than one minute per year—setting a global benchmark for reliability,” noted Al Tayer.


 “I am optimistic about our outlook for 2025, driven by the continued growth in tourism, residential, commercial and industrial demand; the expanding active daytime population in Dubai; and opportunities for business expansion and infrastructure development,” added Al Tayer.

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DEWA’s general assembly approves dividend payment of AED3.1 billion to shareholders for H2 of 2024

Unknown business, energy sector, finance news, water, water management

DUBAI, 21st March, 2025 (WAM) -- Dubai Electricity and Water Authority (DEWA) reported that its shareholders have, in the general assembly held today, approved the payment of total dividend of AED3.…

British Scientist Unearths Oldest Water in History and Takes a sip

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 A scientist who found the oldest water ever discovered on Earth decided the best course of action was, of course, to drink it.


 Professor Barbara Sherwood Lollar was leading a team of geologists studying a
 Canadian
 mine in 2016 when she made the remarkable discovery.


 The flowing water about three kilometres below the surface was between 1.5bn and 2.6bn years old, according to tests, making it the oldest
 water
 found on Earth.


 “When people think about this water they assume it must be some tiny amount of water trapped within the rock,” said Prof Sherwood Lollar.


 “But in fact it’s very much bubbling right up out at you. These things are flowing at rates of litres per minute – the volume of the water is much larger than anyone anticipated.”


 Upon tasting the
 ancient
 water, she found that it was “very salty and bitter” and “much saltier than seawater”.


 That was an encouraging sign, because saltier water tends to be older. In this case, where the water has been ageing for billions of years, it is hardly surprising.


 “If you’re a geologist who works with
 rocks
 , you’ve probably licked a lot of rocks,” said Sherwood Lollar.


 Her team also found that life had once been present in the water, by looking at the sulphate – the composition of
 salts
 – in it.


 “We were able to indicate that the signal we are seeing in the fluids has to have been produced by microbiology – and most importantly has to have been produced over a very long time scale.


 “The microbes that produced this signature couldn’t have done it overnight.


 “This has to be an indication that organisms have been present in these fluids on a geological timescale.”


 Fortunately, the scientist had no terrifying
 sci
 -fi movie-esq reaction to drinking the ancient water, and lived to tell the tale.


 The paper was published in
 Nature
 in 2016.


 
 This article was first published on October 26, 2023
 


 
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British Scientist Unearths Oldest Water in History and Takes a sip

Unknown drinking water, food and drink, life sciences, science, water

A scientist who found the oldest water ever discovered on Earth decided the best course of action was, of course, to drink it. Professor Barbara Sherwood Lollar was leading a team of geologists stu…