Abu Dhabi: Etisalat on Tuesday said it would pay dividends at 60 fils per share par value for the fiscal year 2011.
Following a board meeting, the general assembly elected four new members, Khalaf Bin Ahmad Al Otaiba, Shaikh Ahmad Mohammad Bin Sultan Surour Al Daheri, Abdul Munim Bin Eisa Bin Nassir Al Sarkal and Mana Mohammad Saeed Al Mulla.
Reflecting on the results which included a growth in subscriber numbers by 23 per cent and a 1 per cent growth in revenues to Dh32.2 billion and profits of Dh11.6 billion before 50 per cent federal royalty, etisalat chairman Mohammad Hassan Omran said, "Etisalat has continued to achieve growth in its operating revenues, and also maintained strong operating profit margins at 32 per cent before federal royalty. If we set aside the drop of value in the Indian operation, we see that the corporation has maintained good profitability despite challenges that are being witnessed by business sectors across the globe and particularly in the Arab region."
In an interview, group CEO Ahmad Abdul Karim Julfar commented on the company's fourth generation services in Abu Dhabi. "Our Dh1.8 billion investment in infrastructure to enhance our fibre-optic network and roll-out of the LTE [Long Term Evolution ‘4G'] network means that we are prepared to capitalise on the trend for demand in data."
