Media ININ Economy We Trust
20-03-2019 Media in\ Abu Dhabi
The General Assembly of Etisalat Group, at its annual meeting held at the company’s headquarters in Abu Dhabi, approved the Board of Directors’ recommendation to distribute 80 fils per share for the full fiscal year 2018.
This comes at a time when the consolidated revenues of the group reached 52.4 billion dirhams, while consolidated net profits after deduction of the federal franchise amounted to 8.6 billion dirhams, a growth rate of 2.4%. The General Assembly also approved the lifting of the restriction on The vote of foreign shareholders.
Essa Mohammed Al Suwaidi, Chairman of Etisalat Group, said that Etisalat’s 2018 journey was an extension of previous successes towards realizing the vision of Etisalat Group to lead the Digital Future for Community Empowerment by strengthening key business and enriching the portfolio. Digital services, diversification of revenue through new growth opportunities, and exceptional efforts to enhance its leadership position and improve operational efficiency.
Al-Suwaidi added that Etisalat Group continued to achieve good financial performance as well as maintaining its high credit rating, reflecting its relentless efforts to maximize value added to shareholders. This led to a proposed dividend of 40 fils per share for the second half of 2018, The total cash dividend distributed is 80 fils for the full year, representing a dividend yield of 4.7 per cent plus a dividend of 81 per cent, referring to Etisalat’s efforts to strengthen corporate governance by lifting the voting rights of foreign shareholders.
Eng. Saleh Abdullah Al Abdooli, CEO of Etisalat Group, said: “Etisalat has achieved significant progress in the digital field, developing its operational model and maximizing the added value of customers and shareholders alike.
He stressed in a speech that the process of strengthening the portfolio of the “Etisalat Group” was one of the most important objectives that Etisalat is keen to achieve in 2018 ..
“The Group is able to maintain the momentum of positive business in most of its major international operations and to maintain business that ensures the integration of the Group and the creation of added value.” Etisalat Group has reached the highest value brand portfolio in the Middle East and North Africa Africa, which is an important achievement to place it in the ranks of global brands, and in the forefront of regional brands in the telecommunications sector.
