Abu Dhabi National Energy Company (Taqa), a global energy company majority owned by the Abu Dhabi Government, has approved a dividend of 10 fils per share for 2010.

The payment of dividends is expected to occur on May 19.

In addition, Taqa shareholders selected a new board of directors, following the end of the three-year tenure for the previous board.

“Following a strong operational and financial performance in 2010, we are able to pay an attractive dividend to reward our investors for their confidence in our strategy,” said Hamad Al Hurr Al Suwaidi, chairman of Taqa.

Taqa is the 6th largest independent power producer in the world. Its power plants are located in the United Arab Emirates, Morocco, Saudi Arabia, Ghana, India, and the United States.

Taqa is the majority owner in the facilities that provide 98 per cent of the water and electricity requirements in Abu Dhabi.-TradeArabia News Service