Payout includes interim cash dividend of 0.13 fils per share and special dividend of 0.10 fils per share
Dubai, UAE: Emirates Integrated Telecommunications Company (du) today held its General Meeting where shareholders approved an interim cash dividend of AED 0.13 fils per share and a special dividend payout of AED 0.10 fils per share, totaling 0.23 fils per share for the first half of 2015. "In light of our progressive dividend policy and supported by our strong capital position, we are delighted to announce the return of AED 1.05 billion to shareholders by way of a special and interim dividend for the first half of 2015. This is a reward, and a show of our thanks, for their ongoing commitment and support," said Ahmed bin Byat, du's Chairman.
Shareholders that are registered in the company's sharebook on 27 September 2015 will be entitled to receive the dividend payout.
Shareholders were also provided with an overview of company's financial performance during the first half of 2015. Highlights included; Q2 net profit before royalty rising 3.1% to AED 978.5 million; fixed line revenue increasing by 20.2%, data revenue jumping by 4.9%, and EBITDA climbing 3.5% to a record AED 1.34 billion. Another significant milestone recorded during the first half of the year was du announcing the rollout of network sharing across fixed line services with Etisalat. A controlled launch is currently underway to ensure a smooth and trouble free customer experience."Network sharing between du and Etisalat is a major step towards healthy competition between the two operators, and will allow du to build a greater share of the fixed-line market, reinforcing our competitive position. This fits the UAE agenda of encouraging the best in service through healthy competition." Mr. Bin Byat added.
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We opened for business in 2006. We offer mobile and fixed telephony, broadband connectivity and IPTV services to individuals, homes and businesses. We also provide carrier services for businesses and satellite up/downlink services for TV broadcasters. As a rapidly-growing enterprise, we have a team of experts working to enhance and expand our bouquet of service offerings. Our people come from over 60 countries - we mirror the rich cultural diversity of our nation, while being able to serve our customers in a variety of languages.
Over 50% of our senior management team and customer-facing employees are UAE nationals, and we remain committed to providing fulfilling opportunities for quality talent in a cosmopolitan working environment.
du is 39.5 percent owned by Emirates Investment Authority, 20.081 percent by Mubadala Development Company PJSC, 19.5 percent by Emirates Communications and Technology LLC and the remaining stake by public shareholders. du is listed on the Dubai Financial Market (DFM) and trades under the name 'du'.Media Contacts:
Tim Falconer: tfalconer@bellpottinger.com; +971 555597398
Alexa Hooft Graafland: ahooftgraafland@bellpottinger.com; +971 55559 7404
Rima Ali: (Arabic) rali@bellpottinger.com; +971 55559 7414
© Press Release 2015
