Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has obtained the necessary approvals for its new dividend policy for 2020-2022 from the Department of Economic Development and the Securities and Commodities Authority (SCA).
These approvals were granted after TAQA's shareholders had agreed on distributing interim cash dividends, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Tuesday.
In the new policy, 2020 dividends will be paid out through interim dividends of 1.5 fils per share for the first nine months of 2020 and final dividends of 1 fils per share, due in 2021.
It is noteworthy to mention that in mid-December, the shareholders approved full-year 2020 dividends worth AED 2.811 billion and a 10% increase in annual dividends to 2.75 fils per share for 2021 and 3 fils per share for 2022.
In 2021 and 2022, dividends will be paid quarterly, making TAQA the first UAE-listed company to distribute dividends on a quarterly basis.
