UAE's Etisalat to pay out 40 fils a share as H1-2021 dividend, net profit totals impressive Dh4.7b

Dubai: The UAE telecom giant Etisalat will distribute interim dividends of 40 fils per share for the first-half of this year. This will paid to the shareholders registered at the close of business day on August 8.

The company, which had issued a record dividend for full-year 2020, recorded group-wide revenues of Dh26.4 billion, which is a 3.2 per cent year-on-year increase, while consolidated net profit - after the federal royalty payout – was Dh4.7 billion, which is a 3.9 per cent gain. Net profit margin came to an impressive 18 per cent. The Group's subscriber base is now at 156 million.

Rating agencies S&P Global and Moodys recently affirmed Etisalat Group’s AA-/Aa3 ratings with a stable outlook. The telco also completed a bond issuance - of one billion euro - to refinance a maturing euro bond tranche.

“Etisalat Group’s strong results in the first-half of 2021 is an outcome of our sincere efforts to drive growth and generate efficiencies," said Hatem Dowidar, CEO. [And] "with an unwavering commitment to key strategic priorities to enable a digital future and drive digital innovation across our operations. Despite the challenges in our key markets, our businesses delivered growth in revenue, net profit and operating free cashflow."

In the UAE, the subscriber numbers were at 12.1 million, while the aggregate subscriber base was 156.1 million, from a year-on-year increase of 7 per cent. And it is gearing up for more - "With our success in deploying 5G as well as taking the global lead in fibre penetration, we ensured our networks are future-ready for the next generation of mobile networks and technologies," the CEO added. "We will focus on expanding our capabilities, maintaining industry leadership to achieve our long-term goals of enriching customer lives and empowering governments, businesses and societies across our footprint."