Disclosure of the revenue of Abu Dhabi National Energy Company within 9 months
The Abu Dhabi National Energy Company (TAQA) announced its first consolidated interim financial results, after completing the merger deal with the Abu Dhabi Energy Corporation ... where the volume of “TAQA” revenues during the first nine months of this year reached 30.8 billion dirhams.
Earnings before interest, taxes, depreciation and amortization amounted to 12.0 billion dirhams, and the “group” recorded a net income of 1.3 billion dirhams .. while the group’s capital expenditure reached 2.8 billion dirhams.
The global technical availability rate for the electricity generation and water production sector reached 94.9%, consistent with the rate recorded in the previous period ... while the value of the organized assets of the transport and distribution sector amounted to 80.8 billion dirhams ... and the average production of the oil and gas sector reached 118.5 thousand barrels of oil equivalent per day.
The Board of Directors also approved the "TAQA" Group to increase the foreign ownership limit for the company to 49% of the issued capital, and this decision will take effect immediately .. The ownership of the company was previously limited to the citizens of the country and its institutions, according to WAM.
The company’s board of directors proposed a new dividend policy targeting a total dividend of 2.50 fils per share for the year 2020, with an annual increase of 10% over the next two years.
Dividends for the year 2020 will be paid through interim dividends of 1.50 fils per share, to be paid at the earliest time .. and final dividends of one penny per share, to be paid after the annual general assembly in 2021 .. And dividends for 2021 and 2022 will be paid on Quarterly basis.
