UAE’s e& approves dividend of 40 fils per share for H2 2021

UAE telecom major e& (formerly known as Etisalat Group) has approved a cash dividend of Dhs0.4 per share for the second half of 2021.

The company held its annual general meeting (AGM) where shareholders approved the recommendation from the board of directors to distribute the cash dividend. This has brought the total annual dividend to Dhs0.8 per share.

Chairman of e&, Jassem Mohamed Bu Ataba Alzaabi, said: “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.”

The group was named the strongest telecoms brand worldwide in January 2022. It also reported a net profit of Dhs9.3bn, an increase of 3.2 per cent year on year, while it saw a 3 per cent increase in its aggregated subscriber base, rising to 159 million, a statement said.

Read: UAE’s e& reports 3.2% rise in consolidated net profit for 2021

Jassem Mohamed Bu Ataba Alzaabi stated that value creation remains at the core of the work e& does as it continues to lead the change for growth.

“We’ve already witnessed a defining moment in our history through our transformation as e&, thanks to the strong financials and standing in the market. Our growth mindset will continue to guide us forward as we refocus our efforts on investing in breakthrough technologies, accelerating in-depth market penetrations and capitalising on solid ventures with key industry players.”

Read: UAE telecom major Etisalat Group rebrands as e&

Last month, e& announced a strategic partnership with Meta.

Read: UAE’s e& partners with Meta to drive innovation

Hatem Dowidar, Group CEO of e& added that the group’s financial performance resulted from international operations and steady improvements in domestic operations. “This has been an exceptional year for us as we delivered solid financial performance and business growth across all our operations in 2021. The group’s consolidated revenues increased by 3.2 per cent to Dhs53.3bn and consolidated net profit amounted to Dhs9.3bn, representing a 3.2 per cent increase year-on-year. Our consolidated EBITDA amounted to Dhs26.7bn, representing a year-on-year increase of 1 per cent which resulted in an EBITDA margin of 50.1 per cent.”

e& will enhance customers’ experiences across all segments as part of its strategy, which is aimed at accelerating growth through a business model that represents the group’s main business pillars. Telecoms will continue to retain the previous branding identity while bolstering the group’s strong telecoms infrastructure and maximising value for its customer segments, in the UAE and internationally. e& life plans to deliver next-generation technologies and digital experiences. e& enterprise will drive the digital transformation of governments, corporates and enterprises. Through its solutions in cybersecurity, cloud, Internet of Things  and artificial intelligence, as well as deploying mega projects, e& enterprise will create real business value. e& capital will drives new acquisitions and mergers in line with its vision for investing in ideas that make the future, the statement added.