Etisalat has officially agreed to pay a dividend of 60 fils per share based on its financial results from a turbulent year.
The company's General Assembly yesterday rubber-stamped the payout - the same level as 2010s - proposed in February on the back of 2011 financial results which disappointed some shareholders.
Etisalat's net profit fell by 24 per cent last year to Dh5.8 billion (US$1.57bn) because of write-downs related to company's troubled affiliate in India.
The company cited the Supreme Court of India's decision to cancel 122 licenses, including that of Indian subsidiary Etisalat DB (India), as the main reason for the profit drop, taking a Dh1bn bite out of net profits.
This morning trading was muted, with Etisilat shares dipping slightly, 0.3 per cent down to Dh.9.3 on the Abu Dhabi Securities Exchange (ADX) General Index.
The General Assembly also announced it had elected four new members from the private sector as follows:- Khalaf bin Ahmed Al Otaiba, Shaikh Ahmed Mohammed bin Sultan Srour Al Dhaheri, Abdul Munim bin Eisa bin Nassir Al Serkal and Mana Mohammed Saeed Al Mulla.
Mohammed Hassan Omran, Etisalat chairman, said: "If we set aside the drop of value in the Indian operation, we see that the corporation has maintained good profitability despite challenges that are being witnessed by business sectors across the globe and particularly in the Arab region.
"Etisalat investments in national broadband network infrastructure have spurred combined revenues growing by 20 per cent in data and internet segments reaching Dh 8bn contributing to 34 per cent of total UAE revenue.
"These results support our long term investment strategy of diversifying revenues and driving greater efficiencies from our international operations, while enhancing network capacity for the increasing demand for data usage."
Guide to intelligent investing
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Why are you, you?
Why are you, you?
From this question, a new beginning.
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Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
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COMPANY%20PROFILE
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Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
UAE currency: the story behind the money in your pockets
Company%20Profile
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How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Company%20profile
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RoboCop%3A%20Rogue%20City
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
How to avoid crypto fraud
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