Abu Dhabi National Energy Company (TAQA) achieved revenues of 30.8 billion dirhams during the first nine months of this year.

According to the Emirates News Agency, these financial results are the company's first consolidated interim financial results for the company after completing the merger with Abu Dhabi Energy Corporation on July 1, 2020.

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and EBITDA reached 12.0 billion dirhams, and the group recorded net income for an energy share 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 assets organized for the transport and distribution sector amounted to 80.8 billion dirhams in When 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 TAQA Group to increase the foreign ownership limit of the company to 49% of the issued capital, and this decision will take effect immediately..and the ownership of the company was in The former is limited to the citizens of the state and its institutions.

The company’s board of directors proposed a new dividend policy targeting total dividends for the year 2020 of 2.50 fils per share, and an annual increase of 10% over the next two years. / p>

According to the proposed policy, dividends for 2020 will be paid through an interim dividend of 1.50 fils per share paid as soon as possible and a final dividend of one penny per share One is to be paid after holding the annual general assembly in 2021. Dividends for 2021 and 2022 will be paid on a quarterly basis.

and TAQA intends to distribute the profits on a quarterly basis, as the implementation of the new policy is subject to approval by regulators and shareholders which, once obtained, will allow the Board of Directors to agree later to pay dividends Interim profits as soon as possible after that.

His Excellency Mohamed Hassan Al-Suwaidi, Chairman of TAQA Group, said: We are excited to see TAQA embark on a journey enhanced by the recent merger with Abu Dhabi Power Corporation, so we can start making the foundations. The new strategy of the company, which includes achieving sustainable returns for shareholders. To this end, we will propose to our shareholders a progressive dividend policy that will produce quarterly cash returns for investors - for the first time among the companies listed in the UAE - and commit to increasing these returns by 10% annually during the next two years..and our decision ...