Page 153 - SALIK PR REPORT APRIL 2024

4/3/24, 11:33 AM Salik Announces Dh550 Million Dividend Following a Prosperous 2023
2023. The total value of cash dividends distributable for the fiscal year 2023

amounted to Dh1,097,962,219, equivalent to 14.6395 fils per share,

approximately equal to the year’s distributable net profit.

The AGM concluded with the approval of several special resolutions. These

included amending the definition of ‘government shareholder’ to include any
entity or individual appointed by the Government of Dubai. Additionally,

Salik’s articles of association were revised to incorporate new business

activities into its operations. The AGM also approved Salik’s corporate social
responsibilities (CSR) policy, with a portion of the company’s forecasted

revenues allocated to CSR initiatives.

Al Tayer highlighted Salik’s strong financial performance in 2023, noting a

record total revenue of Dh2.1 billion, an 11.4 percent increase year-on-year.

This growth was primarily driven by an 11.7 percent rise in toll usage revenue,
marking the strongest full-year performance since Salik’s inception in 2007.

He emphasized the distribution of 100 percent of Salik’s net profit for the
second half of 2023 as a reflection of the company’s commitment to creating

long-term value for shareholders. “We are a direct contributor to, and

beneficiary of, Dubai’s commitment to growth and diversification, and we are
proud to be playing a role in this thriving economy,” he said.

Salik’s commitment to sustainable growth and adherence to international best
practices were further underscored by the introduction of its CSR &

volunteering policy in 2024. This approach is aimed at supporting

socioeconomic development while prioritizing societal well-being and creating
positive community impacts.

Ibrahim Al Haddad, CEO of Salik, remarked on the significance of the second
AGM as a publicly listed company, highlighting the company’s dedication to

robust governance and transparency practices. “We are committed to fulfilling

our strategic growth plans, elevating our business to unprecedented levels of
success,” he said, reflecting the company’s ambitious vision for the future.

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