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Etisalat proposes 40 fils dividend payout for second half

Telcom operator’s fourth-quarter net profit falls to Dh2b

Gulf News

Dubai: The etisalat Group has proposed a dividend payout of 40 fils per share for the second half of 2017, bringing the total dividend payout of 80 fils for the full year after reporting its full-year results.

The telco, which operates in 16 markets across the Middle East, Africa and Asia, said in a statement on Tuesday that its UAE revenues increased 3 per cent year over year to Dh31.2 billion while its net profit after royalty increased 5 per cent year-on-year to Dh8.2 billion.

Its subscriber base in the UAE grew 3 per cent in the fourth quarter to 12.6 million.

“In 2017, etisalat Group continued to deliver on its promise of strong performance despite the increasing global economic challenges and the mounting pressure facing the telecom industry,” Saleh Abdullah Al Abdooli, group chief executive officer, said in a statement.

The operator’s aggregate subscriber base reached 142 million, representing a year-on-year increase of 1 per cent.

In the UAE, revenue for the fourth-quarter increased year-on-year by 3 per cent to Dh8.1 billion.

Net profit after royalty reached Dh2 billion in the fourth quarter of 2017, compared to Dh2.2 billion a year earlier.

Al Abdooli said the successful launch of the first pre-commercial 5G in UAE “will enable our nation and businesses to achieve transformational growth by leveraging on new-age technologies like IoT [Internet of Things], Artificial Intelligence [AI], robotics, cloud and future technologies that will reshape our society and industry on a large scale.”

The etisalat Group last week reported an annual profit for 2017 of Dh8.44 billion, up from Dh8.42 billion a year earlier, registering an increase of 0.24 per cent.

The consolidated revenue for the group fell by 1.33 per cent to Dh51.66 billion last year, compared to Dh52.36 billion a year ago, the company had said in a filing to the Abu Dhabi stock exchange.