Shareholders of the UAE’s biggest telecoms operator e& approved a dividend of 40 fils per share for the second half of 2021 at the company’s annual general meeting in Abu Dhabi on Tuesday.
That means a total annual dividend of 80 fils per share for last year, the company said in a statement.
“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,” e&’s chairman Jassem Alzaabi said.
Based in Abu Dhabi, the company, earlier known as Etisalat, was founded in 1976 and is the UAE's oldest telecoms company. It has operations in countries across the Middle East, Asia and Africa, serving more than 156 million customers.
In February, e& reported a 3 per cent rise in 2021 net profit to Dh9.3 billion ($2.5bn). Revenue rose 3 per cent on the year to Dh53.3bn during the period.
“We have come this far because we have capitalised our efforts in providing outstanding customer services at all times, even with the rapid changes the business landscape is seeing,” Hatem Dowidar, group chief executive of e&, said.
The company announced its rebranding as e& in February as it seeks to transform into a global technology investment conglomerate.
The operator is also exploring the development of 6G, the next generation mobile network that will allow for much faster and more sophisticated technology use.
