Emirates Central Cooling Systems Corporation (Empower) said it has paid Dh400 million ($109 million) as dividends to its shareholders, from the profit of the company for the year ended on December 31, 2017.

A leading district cooling services provider, Empower had last year declared a net profit of Dh772 million, up 20 per cent over 2016.

Empower’s total revenues in 2017 amounted to Dh1.96 billion, thus registering an increase of 6.1 per cent compared to the previous year.

"We are proud to declare and pay a significant amount of dividends to our shareholders in 2017, which is made possible through various positive factors, including a robust strategy and its effective implementation," remarked its CEO Ahmad bin Shafar.

"Commendably, the vision of our great leaders of the nation and Dubai on environmentally sustainable development and energy-efficient urban neighbourhoods has further boosted the industry in general, and Empower’s business consequently," he stated.

"This supports the vision and aspirations of our wise leadership to transform the Emirate into the leading global centre for green economy," he added.-TradeArabia News Service