Etisalat is discussing a cash dividend of 40 fils per share in March

Emirates Telecom Group will discuss a proposal to distribute cash dividends to shareholders at a rate of 40%, equivalent to 40 fils per share of capital for the second half of 2020;

And that during its meeting, which will be held on Wednesday, the 17th of next March.

The group said, in a statement to the Abu Dhabi Securities Exchange, that its general assembly will also discuss the distribution of additional one-time profits of 40% during the meeting.

The group indicated that the assembly will consider authorizing the board of directors to appoint representatives to represent shareholders who are unable to participate in the next general assembly and to determine their fees.

The assembly’s agenda includes issuing a resolution approving raising the percentage of foreign ownership in the company's shares from 20% to 49%, and amending the ceiling for appointing external auditors to six consecutive years.

The general assembly will discuss the proposal to cancel the company's share purchase program, elect four members to the board of directors, allocate a budget that does not exceed 1% of the average net profits of the company in the past two years 2019 and 2020 to make voluntary contributions for community service purposes, and authorize the Board of Directors to determine which funds will be allocated and disbursed to them. .

Emirates Telecommunications Group Company’s profits increased by 4 percent in 2020;

To reach 9.03 billion dirhams by the end of 2020, compared to the results achieved during the same period in 2019, which amounted to 8.69 billion dirhams.

Revenue declined 1 percent to 51.7 billion dirhams last year, compared to about 52.2 billion dirhams in 2019.

At the level of the fourth quarter of 2020, profits amounted to 2.05 billion dirhams, compared to about 1.96 billion dirhams in the same period in 2019

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