Page 111 - SALIK PR REPORT APRIL 2024

4/5/24, 9:02 AM Dubai’s Salik approves distribution of $149.75 million of cash dividends
In addition to the dividend approval, the AGM also passed several Special
Resolutions. One of these resolutions involved amending the definition of
‘Government Shareholder’. The amendment includes any entity or individual
designated or nominated by the Government of Dubai. Additionally, amendments

were made to the Articles of Association to incorporate new business activities into
Salik’s operations.

Moreover, the AGM approved Salik’s Corporate Social Responsibilities policy, which
outlines the company’s commitment to social initiatives. As part of this policy, a

percentage of the company’s forecasted revenues will be allocated towards CSR
initiatives.
Various resolutions were approved during the meeting. These resolutions demonstrate

the company’s commitment to its shareholders. They also highlight Salik’s dedication
to corporate social responsibilities. Furthermore, the approved resolutions signify the
company’s intention to expand its business operations.
Record total revenue

According to Mattar Al Tayer, chairman of Salik’s Board of Directors, Salik’s
financial performance in 2023 demonstrated the strength of its business model. The
company achieved a record total revenue of AED2.1 billion ($571.8 million),

representing an 11.4 percent year-on-year increase. This growth was primarily driven
by toll usage revenue, which saw an 11.7 percent year-on-year increase. These results
mark the strongest full-year performance since Salik’s establishment in 2007.
Al Tayer emphasized that the distribution of 100 percent of the company’s net profit

for the second half of 2023 reflects their commitment to delivering long-term value to
shareholders. He also acknowledged the trust placed in Salik by the wider stakeholder
community, attributing the company’s solid performance in 2023 to this trust. Salik is
proud to contribute to and benefit from Dubai’s dedication to growth and

diversification, playing a role in the thriving economy, he added
Commitment to ESG stewardship
Al Tayer highlighted the significance of the resolutions passed during the AGM. He

stated that these resolutions position Salik for growth. They also underline the
company’s commitment to environmental, social, and governance (ESG) stewardship.
The recent introduction of the Corporate Social Responsibility & Volunteering Policy
in 2024 demonstrates Salik’s dedication to sustainable growth. It also highlights the

company’s commitment to aligning with international best practices. The company
remains committed to close collaboration with relevant institutions and stakeholders,
aiming to support socio-economic development while prioritizing societal well-being
and making positive contributions to the community.

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