The General Assembly of “Etisalat Group” approved during its annual meeting held today at the company’s headquarters in Abu Dhabi, the proposal of the Board of Directors of “Etisalat Group” to distribute total profits to shareholders by 80 fils for the full fiscal year 2019, this comes at the time when the revenues reached The group’s consolidated profits amounted to 52.2 billion dirhams, while the consolidated net profit after deduction of the federal concession amounted to 8.7 billion dirhams, with a growth rate of 1% compared to the same period last year.
In his speech during the meeting, Obaid Humaid Al Tayer, Chairman of Etisalat Group, said: “As Etisalat continues today its journey in the new decade, its performance in 2019 confirms that the various achievements achieved And various as a testament to the company's leadership in the telecommunications sector in the region, where "Etisalat" continued to work to enhance its main business, discover new growth opportunities, enhance its position in the field of digital transformation, and fully prepare to interact with future technologies and its leadership.
He added: “Etisalat has managed to lead the digital transformation through a rapid response to various global technological developments, and to provide the latest services and innovations in this field, to enhance creativity. Through these efforts, it has been able to be at the forefront of the digital transformation in many sectors. And different areas of life, the continuous success of "Etisalat" is mainly due to its awareness of the requirements of its customers, and its ability to provide what they are looking for from the latest pioneering and innovative digital services and solutions and put them in their hands.
He said: “Etisalat has continued to maintain the achievement of good financial performance, and a high credit rating of AA- / Aa3, in a manner that reflects stable long-term performance, and great efforts to achieve added value to shareholders, and this has been embodied through the adoption of a total cash dividend to Shareholders by 80 fils for the full year of 2019, representing a 5% dividend yield, in addition to an 80% dividend.
Obaid Humaid Al Tayer stressed the ability of Etisalat over its four years of operation to meet and fulfill the needs and expectations of millions of its customers across the various markets in which it is present. He said, “Etisalat has been keen to place the interests of its customers at the core All that it does, which enabled it to launch a long list of services and digital and innovative solutions, which played a pivotal role in enriching the daily lives of its customers and making them more accessible and easy. "
The Chairman of Etisalat Group concluded his statement by emphasizing that the success and leadership of Etisalat locally and regionally could not have been achieved without the continuous and sustained support of the UAE leadership, the loyalty of Etisalat customers, the confidence of its shareholders, and the commitment of the Etisalat management team and its dedication to Working towards achieving Etisalat's vision and strategic goals.
On his part, Eng. Abdullah Abdullah Al-Abdouli, CEO of Etisalat Group said: “I am pleased to confirm that Etisalat’s journey during the year 2019 was a continuation of a long journey of unprecedented successes and achievements, during which it was based on an ambitious vision, and a constructive strategy, and these have resulted The elements and elements of achieving results that reflect Etisalat's ambitions and aspirations to lead a sector characterized by rapid development and growth, in addition to achieving added value to its shareholders and customers alike.
He added, “After its acquisition of Tigo Chad, Etisalat is present in 16 markets spread across the Middle East, Asia and Africa, and has worked hard to provide innovative digital services and solutions across these markets to more than 149 million subscribers. The investment was for growth Maintaining a superior and sustainable infrastructure and owning diverse assets, platforms and capabilities is an integral part of Etisalat’s efforts to build networks for a better future through all its operations, until today it is the strongest service brand in the Middle East and Africa for the third time in a row, In addition to being the strongest brand in the sector Contacts in the Middle East and Africa for the fourth time in a row, to be a testament to reflect the fact that the effectiveness of the sincere efforts that have sought to build a successful brand in the telecommunications sector in the region. "
Al Abdooly said: “During the year 2019, Etisalat succeeded in achieving a balanced performance across its various businesses, accompanied by strong financial results, despite the multiple regional and global economic and organizational challenges witnessed by the telecommunications sector, where the consolidated group revenues reached 52.2 billion dirhams, While consolidated net profit has grown to 8.7 billion dirhams, and through these results, Etisalat demonstrates its ability to reduce the negative impact of the various challenges on its results, and to maintain a growth rate in its net profits, and this has coincided with the launch of many successful and effective initiatives that I aimed To enhance cooperation, upgrade efficiency and effectiveness levels, and rationalize expenditures at the group level. "