e& shareholders approve Dh0.4 per share dividend for H2 at AGM

Abu Dhabi: Shareholders of e& on Tuesday approved the recommendation of the board of directors to distribute cash dividends of Dh0.4 per share for the second half of 2021, taking the annual dividend to Dh0.8 a share.

“As we enter the next chapter of our journey, we are confident that we will continue to witness even greater success as we continue to create an environment with limitless possibilities built on solid foundations, smart connectivity and fruitful collaborative opportunities,” said Jassem Mohamed Bu Ataba Alzaabi, Chairman of e& (formerly known as Etisalat Group), while addressing the annual general meeting.

During the meeting, the board praised e&’s efforts in accelerating its digital transformation in an ever-changing business landscape. In light of its recent transformation into a global technology conglomerate, e& was commended for seizing different opportunities to create a more progressive business model that realises the group’s vision of impacting the lives of its customers and shareholders alike.

Alzaabi highlighted a series of achievements that has enabled e& to begin a new chapter, in line with its ambitious strategy to amplify business growth across different segments. The group was named the strongest telecom brand in the world in January 2022, and also topped the Forbes MENA Top 10 most valuable listed companies in the UAE. It reported a solid net profit of Dh9.3 billion, an increase of 3.2 per cent year-on-year. It also saw a 3 per cent increase in its aggregated subscriber base, rising to 159 million. e& has also maintained the UAE’s network leadership with one of the fastest and most advanced networks in the world for the second year, and global FTTH penetration leadership.

During the meeting, Hatem Dowidar, GCEO of e&, shared that the group’s strong financial performance resulted from successful international operations and steady improvements in domestic operations despite persistent challenges in the markets where it operates.

“We’ve come this far because we have capitalised our efforts in providing outstanding customer services at all times even with the rapid changes the business landscape is seeing. We’ve already invested in future technologies to continue enhancing our customers’ experience.”