Etisalat AGM approves full-year 2019 dividends of 80 fils per share

Etisalat continued reinforcing its core business and exploring new growth opportunities while transitioning to the digital era

  
Etisalat business center, Dubai. Image used for illustrative purpose.

Etisalat business center, Dubai. Image used for illustrative purpose.

Etisalat/Handout via Thomson Reuters Zawya

ABU DHABI: The shareholders of the Emirates Telecommunication Company, Etisalat, at their Annual General Meeting held at the company’s headquarters in Abu Dhabi, backed the board’s recommendation to pay full-year 2019 dividends of 80 fils per share.

The Etisalat Group's consolidated revenues reached AED52.2 billion, while consolidated net profit after Federal Royalty reached AED8.7 billion, an increase of one percent compared to the same period last year.

Obaid Humaid Al Tayer, Chairman, Etisalat Group, said, "As we begin our journey into the next decade, 2019 was a testimony to the Etisalat Group's leadership locally and internationally.

Etisalat continued reinforcing its core business and exploring new growth opportunities while transitioning to the digital era and being well geared for the future." He continued, "Etisalat Group continued to achieve a strong financial performance and maintained its high credit rating (AA-/Aa3), reflecting a proven long-term performance and efforts to provide value to shareholders, which was the drive behind proposing a final dividend of AED0.8, representing a dividend yield of five percent and dividends payout ratio of 80 percent."

"This was only possible due to a decade of continuous support and vision of the UAE leadership, the loyalty of our customers and the trust of our shareholders. A special thanks to the Etisalat management team for their commitment and dedicated work towards the realisation of Etisalat’s vision and strategic goals," he added.

Saleh Abdullah Al Abdooli, GCEO, Etisalat Group said, "With the acquisition of Tigo Chad, Etisalat Group is now operating in 16 markets while enriching the lives of over 149 million subscribers.

Investing for growth, sustaining superior infrastructure, possessing differentiated assets, platforms and capabilities were integral to building a network for a better future across our markets. Etisalat today is recognised as the most valuable consumer and telecom brand in the MEA region for the third and fourth consecutive years respectively, an illustration of our long-standing efforts and testament to building a successful telecom brand in the region."

"In the end, I am confident that the Etisalat Group will deliver the ambitions and aspirations of our customers and continue to support the communities we serve and add value to the markets in which we operate. We are thankful to the wise leadership of the UAE and our shareholders for their steady support during this journey, and our customers for their continued confidence and trust," he said in conclusion.

© Copyright Emirates News Agency (WAM) 2020.

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