Thursday, Mar 29, 2012
Gulf News
Dubai Emirates Integrated Telecommunications Company (du) yesterday declared a Dh0.15 per share cash dividend at its annual general meeting (AGM).
Chairman Ahmad Bin Byat presented a review of 2011 at the meeting. The AGM nominated its board members Ziad Galadari and Abdullah Al Shamsi to represent the public shareholders.
Bin Byat said: “2011 was an impressive year, and we continued to deliver record results.
“Our net profit before royalty has grown significantly, increasing to Dh1.8 billion in 2011, an impressive 48 per cent increase year on year.
“Following an announcement by the Federal Government, setting the royalty charge for 2011 at a rate of 15 per cent of net profit and five per cent of revenue, our net profit after royalty reached Dh1.1 billion.
“The payment of our first dividends of 15 fils per share for 2011 celebrates the solid financial position that we have built in the market.
Economic momentum
“The economic momentum of the UAE combined with the capabilities we’ve built in offering innovative and attractive customer propositions, has resulted in a greater number of customers placing their trust in us and increased traffic on our world-class infrastructure, which has in turn led to a very strong financial performance, aided by increased operational efficiency.”
The AGM also confirmed the appointment of KPMG as auditors of the company’s accounts for 2012.
Staff Report
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