Shareholders of National Central Cooling Company (Tabreed) have approved an interim dividend of 6.5 fils per share, representing Dh184.9 million, for the first half of 2025.

This marks the first interim dividend in Tabreed's 27-year history, reflecting the company's record first-half performance, with revenue rising 3 per cent year-on-year to Dh1.11 billion and net profit reaching Dh276 million, supported by strong cooling demand and significant capacity growth across key markets.

Tabreed's growth momentum continued in the first half of 2025, with total connected capacity reaching 1.37 million RT following a record 41.6k RT of new connections, almost double the capacity added in all of 2024. Strong contributions from the UAE and Saudi Arabia underline the company's position as a truly cross-regional operator and set the stage for the next phase of growth. At the same time, Tabreed advanced its long-term strategy with two landmark developments, the PAL Cooling acquisition and the Palm Jebel Ali concession. Together, these transactions represent the largest in the company's history, expanding total site capacity to approximately 2.6 million RT and strengthening the foundation for capital-efficient growth, recurring cash flows, and a platform capable of delivering sustained value well beyond 2025.

Dr. Bakheet Al Katheeri, Tabreed's Chairman, said:“Tabreed continues to build on its strong foundations, combining record first-half results with strategic milestones that reinforce the scalability of our platform. The approval of the company's first-ever interim dividend reflects this strength and our commitment to shareholders, underlining the confidence we have in delivering sustainable long-term value. With capacity growth across the UAE and Saudi Arabia, alongside landmark transactions such as the PAL Cooling acquisition and Palm Jebel Ali concession, Tabreed is well positioned to pursue its growth agenda while maintaining capital discipline and a clear focus on shareholder returns.”

Robust free cash flow and disciplined capital allocation supported both growth investment and shareholder returns in the first half of 2025. The successful issuance of a $700 million green sukuk, under the company's green finance framework, strengthened the balance sheet and enhanced liquidity, underpinned by investment-grade credit ratings from Moody's and Fitch. At the same time, Tabreed is embedding sustainability across its operations, from deploying renewable energy at select plants to piloting low carbon cooling solutions, reinforcing its role as a long-term partner in the region's energy transition.

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