Gulf News: Dubai: Shareholders of Abu Dhabi National Energy Company confirmed a new board of directors at the company’s annual general assembly, marking a leadership update at one of the region’s largest listed utilities groups while approving dividends that will return around Dh5 billion to investors.

Jassem Mohammed Bu Ataba Al Zaabi was elected chairman of the board following the shareholder vote. The board also confirmed Dr. Sultan Ahmed Al Jaber as vice chairman, joining a group of senior officials and industry figures tasked with guiding the company’s next phase of growth.

Investors also approved a final cash dividend of 2.20 fils per share for the fourth quarter of 2025. The payout includes a fixed dividend of 1.5 fils per share and a variable dividend of 0.70 fils per share. Total dividends for the financial year ended December 31, 2025 reach 4.45 fils per share once interim distributions declared in May, August and November are included.

The full-year distribution equates to roughly Dh5 billion returned to shareholders.

Board reshuffle confirmed
The newly elected board will serve a three-year term and includes senior leaders from across government and industry. The group will oversee TAQA’s strategy during a period when utilities companies are expanding infrastructure investments and strengthening energy systems.

Jassem Mohammed Bu Ataba Al Zaabi said the company’s position in the utilities sector provides a strong platform for continued growth.

“TAQA has established itself as one of the region’s leading integrated utilities companies, playing a vital role in supporting Abu Dhabi’s sustainable economic growth and energy transition,” he said.

“I look forward to working with the Board build on the Company’s strong foundations, accelerate its strategic ambitions and continue delivering sustainable long-term value for our shareholders and stakeholders.”

Dividend policy extended
Shareholders also approved an updated dividend policy covering the period from 2026 through 2028. The framework maintains both fixed and variable elements within the annual dividend structure, with the fixed portion expected to grow each year.

Management said the approach is designed to provide investors with clearer visibility over future returns while maintaining flexibility tied to financial performance.

The dividend framework had been published earlier on the Abu Dhabi Securities Exchange and received formal approval during the annual meeting.