Zain Bahrain held its Annual General Assembly Meeting; dividend of 6 fils approved for 2020

Net profits increase by 3% despite COVID – 19 challenges

  
His Excellency Shaikh Ahmed bin Ali Al Khalifa, Chairman of Zain

His Excellency Shaikh Ahmed bin Ali Al Khalifa, Chairman of Zain

  • Electing and appointing seven board members for the next three years
  • Dividends of 6 fils approved for 2020
  • His Excellency Shaikh Ahmed Bin Ali Al Khalifa: “Zain Bahrain increased its investments and took initiatives and measures to improve its offerings and customer experience” 

Manama, Bahrain: Zain Bahrain, a leading telecommunications provider in the Kingdom, held its Annual General Assembly Meeting (AGM) at Bahrain Bourse Business Center in Manama where attendees participated both physically and virtually via videoconferencing. Items on the agenda were discussed and the necessary decisions were taken.

Zain Bahrain's Board of Directors’ recommendation to distribute annual dividends to shareholders representing 6% of the company's paid-up capital, equivalent to 6 fils per share, was approved, along with the recommendation to transfer BD540,496 to statutory reserve and BD2,681 million as retained earnings for the following year. Cash dividends will be paid to shareholders commencing 19 April 2021.

The AGM also approved the appointment of four Board members and the election of three others for the next three years (2021-2023). The members elected as Board of Directors are H. E. Shaikh Ahmed Bin Ali Al Khalifa, Mr. Ahmed Tahous Al- Tahous, Shaikh Rashid Bin Abdulrahman Al Khalifa, Mr. Bader Nasser Al-Kharafi, Mr. Yousef Khaled Al- Abdulrazzaq, Mr. Zaki Hilal Al Busaidi and Mr. Ali Hasan Al-Khaja.

Zain Bahrain increased its investments and took various initiatives and proactive measures in 2020 to improve its offerings and reduce the impact of COVID-19 on its customers and society at large.

Despite the challenges and economic uncertainties into which the world was plunged in 2020, we managed through our resilient policies and programs to increase our profits and per-share earnings by 3% in 2020. Going forward, we remain committed to delivering the best telecommunication and digitization products and services in the world and further developing Bahrain as a leading technology hub in the region.

Zain Bahrain invested in its network and customer experience in 2020, launching and expanding its 5G commercial services and developing 4G infrastructure to accelerate business opportunities for various sectors. The company launched a WhatsApp business channel and upgraded its zBot and self-care channels to enhance the digital experience for its customers.

The company’s key achievements for the year also included the launch of phase two of the Zain Delights program, the enrichment of B2B services, the provision of Remote Teleworker solutions, and the launch of Al Zain postpaid platform.

Zain Bahrain also took various initiatives to support youth, keep customers safe and connected, ensure the development of employees and the empowerment of women, support the community to help address COVID-19 challenges, and advance the company’s CSR agenda, particularly in line with Bahrain’s 2030 vision and the United Nations Sustainable Development Goals.

-Ends-

For press inquiries, please contact:
Karen Paes
Gulf Marcom W.L.L
karen@gulfmarcom.com  

About Zain Bahrain

Zain Bahrain, a telecommunications industry innovator focused on enhancing customer experience, was awarded a mobile telecom license on 22 April 2003 and commenced commercial operations on 28 December 2003. The operation promptly placed Bahrain on the world telecom map through the introduction of many mobile technology innovations that continue to this day with nationwide high-speed 4G LTE and 5G services being offered through the Kingdom's most advanced mobile network. Zain Bahrain, listed on the Bahrain Bourse (Ticker: ZAINBH), is part of Zain Group, a leading telecommunications operator across the Middle East and Africa, which provides mobile voice and data services to 48.9 million active customers as at 30 September 2020. With a commercial presence in seven countries, Zain operates in Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia, Sudan, and South Sudan. In Morocco, Zain has a 15.5% stake in 'INWI,' through a joint venture. For more information, please email info@bh.zain.com   or visit: www.bh.zain.com 

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