Du’s main office in Dubai Media City. Image Credit: Gulf News Archives

Dubai: Emirates Integrated Telecommunications Company or (du) said on Wednesday its shareholders have approved the recommendation of board’s decision to give22 fils per share as dividend.

This would get the total dividend to Dh0.35 for 2018, the company said in a bourse filing.

“This (dividend) demonstrates our company’s commitment to shareholder value and our ability to deliver on our commitments,” Mohammad Hadi Al Hussaini, Chairman at du said in a statement.

“In the UAE we have been fortunate to be seen as a key enabler in the nation’s digital transformation agenda, which has triggered our own process of transformation and has guided our own strategy. In doing so we have laid the foundation for growth in new areas, which I believe will add substantial value for shareholders over the long term, while also contributing to the enhancement of the nation’s knowledge-based economy,” Al Hussaini said.

The company recorded revenue of Dh13.41 billion for the year ended 2018, supported by an increase in higher quality customers and by a solid performance in the fixed line business. Net Profit after Royalty was at Dh1.75 billion for the same period. Total customer numbers reached almost 9 million.

Shareholders recorded on the company register by April 7 are entitled to receive the H2 2018 dividend which will be paid by April 22.