Phoenix Power Company SAOG at its Ordinary Annual General Meeting held on 18 March 2024, approved the proposal authorizing the Board of Directors' to determine and distribute cash dividends to the Company's Shareholders (who are registered with the MCDC as of the dates to be decided by the Board of Directors) in July 2024 and January 2025 out of the retained earnings as per the audited financial statements for the financial year ended 31 December 2023, provided that the aggregate amount shall not exceed 5.25 Baizes per share after obtaining no objection from Lenders.