Abu Dhabi National Energy Company, known as Taqa, is recommending that its shareholders approve a special dividend payment of Dh2.2 billion ($598.9m), in addition to the final payment of Dh1.2bn as the company's net profit doubled last year amid higher oil prices.
This comes in addition to the Dh1.9bn already paid in quarterly dividends, Taqa said in a statement on Wednesday to the Abu Dhabi Securities Exchange, where its shares are traded. The payout is pending shareholders' approval at the company’s annual general meeting, which is scheduled for March 15.
“Altogether it means that the total dividend payments to shareholders will be Dh5.3bn for the financial year 2021. This total exceeds expected payment outlined in the company’s dividend policy with the increase reflecting the strong financial performance in 2021.”
The move comes as Taqa posted strong financial results last year amid higher oil prices. The company’s profit in 2021 more than doubled to Dh6bn as revenue grew 11 per cent to Dh46bn.
“Taqa’s proposed dividend payment, totalling Dh5.3bn for the full year, speaks to the financial strength of the company and robust performance for 2021,” Jasim Thabet, Taqa’s group chief executive and managing director said. “We continue to meet our dividend policy and our strategic commitments while maintaining a strong balance sheet.”
Taqa has operations in a number of countries including the UAE, Canada, Ghana, India, Iraq, Morocco, Oman, the Netherlands, Saudi Arabia, the UK and US. The company has significant investments in power and water generation as well as in the oil and gas sector.
The company is also set to become a shareholder in Abu Dhabi’s clean energy company Masdar, along with Adnoc and Mubadala Investment Company.
It will take a 43 per cent stake in Masdar’s renewable energy business with Mubadala retaining a 33 per cent share and Adnoc holding a 24 per cent stake after the completion of the transaction in the coming months.
Meanwhile, Taqa will have a 24 per cent stake, Adnoc will hold 43 per cent and Mubadala will have 33 per cent in Masdar’s green hydrogen business.
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The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at.
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
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What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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- Power: 640hp
- Torque: 760nm
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Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
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SERIES INFO
Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series
All matches at the Zayed Cricket Stadium, Abu Dhabi
Test series
1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March
Play starts at 9.30am
T20 series
1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March
TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube
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The flights
Fly direct to London from the UAE with Etihad, Emirates, British Airways or Virgin Atlantic from about Dh2,500 return including taxes.
The hotel
Rooms at the convenient and art-conscious Andaz London Liverpool Street cost from £167 (Dh800) per night including taxes.
The tour
The Shoreditch Street Art Tour costs from £15 (Dh73) per person for approximately three hours.
SQUADS
Bangladesh (from): Shadman Islam, Mominul Haque, Soumya Sarkar, Shakib Al Hasan (capt), Mahmudullah Riyad, Mohammad Mithun, Mushfiqur Rahim, Liton Das, Taijul Islam, Mosaddek Hossain, Nayeem Hasan, Mehedi Hasan, Taskin Ahmed, Ebadat Hossain, Abu Jayed
Afghanistan (from): Rashid Khan (capt), Ihsanullah Janat, Javid Ahmadi, Ibrahim Zadran, Rahmat Shah, Hashmatullah Shahidi, Asghar Afghan, Ikram Alikhil, Mohammad Nabi, Qais Ahmad, Sayed Ahmad Shirzad, Yamin Ahmadzai, Zahir Khan Pakteen, Afsar Zazai, Shapoor Zadran
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Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
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Engine 3.5L V6
Transmission Six-speed manual
Power 410hp @ 7,000rpm
Torque 420Nm @ 3,500rpm
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The nine articles of the 50-Year Charter
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SPEC SHEET
Display: 10.4-inch IPS LCD, 400 nits, toughened glass
CPU: Unisoc T610; Mali G52 GPU
Memory: 4GB
Storage: 64GB, up to 512GB microSD
Camera: 8MP rear, 5MP front
Connectivity: Wi-Fi, Bluetooth 5.0, USB-C, 3.5mm audio
Battery: 8200mAh, up to 10 hours video
Platform: Android 11
Audio: Stereo speakers, 2 mics
Durability: IP52
Biometrics: Face unlock
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Bio
Born in Dubai in 1994
Her father is a retired Emirati police officer and her mother is originally from Kuwait
She Graduated from the American University of Sharjah in 2015 and is currently working on her Masters in Communication from the University of Sharjah.
Her favourite film is Pacific Rim, directed by Guillermo del Toro
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