KHALEEJ TIMES, Wednesday, Mar 25, 2020 | Shabaan 1, 1441
Etisalat AGM approves dividend of 80 fils per share
The shareholders of the Emirates Telecommunication Company or (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
The Etisalat Group's consolidated revenues reached Dh52.2 billion, while
consolidated net profit after Federal Royalty reached Dh8.7 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 Dh0.8, representing a dividend
yield of five per cent and dividends payout ratio of 80 per cent."
"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.