Transport Parkin proposes $77m dividend for second half 2024 By Pramod Kumar February 28, 2025, 9:27 AM Pixabay Parkin is currently in advanced discussions with the Road and Transport Authority to finalise the variable pricing tariff Parkin, the Dubai government’s parking management company, plans to pay a final dividend of AED281 million ($77 million) for the second half of 2024, the company said in a statement. The dividend payout is subject to shareholders’ approval at the annual general meeting planned by March-end. An interim dividend of AED199 million was paid by the end of October 2024. The company has announced plans to pay a semi-annual dividend in April and October of each year. Parkin is currently in discussions with the Road and Transport Authority (RTA) to finalise a variable pricing tariff, which is set to be introduced from early April. The new policy applies peak and off-peak tariffs across all public parking zones. Dubai’s Parkin signs tech deal with Saudi group BATIC Parkin signs deal to develop vertiports for Dubai air taxis New parking spaces in Dubai drive Parkin’s revenues Net profit rose 7 percent year on year to AED424 million in 2024, as annual revenue jumped 19 percent to AED925 million, the company said. In March 2024 Parkin has raised AED1.6 billion after pricing its initial public offering (IPO) at the upper end of its range at AED2.1 per share. It plans to channel the proceeds from its IPO into technological upgrades, including expansion of its electric vehicle services. The company has already rolled out technology, such as 100 percent solar-powered charging meters, paperless tickets and fines, moving to a hybrid vehicle fleet, and expanding its smart parking inspection capabilities, as part of plans to achieve net-zero operations by 2050.
