Etisalat AGM Approves Full-year 2018 Dividends Of 80 Fils Per Share

At Etisalat’s Annual General Meeting, AGM, shareholders have backed the board’s recommendation to pay full-year 2018 dividends of 80 fils per share and approved the proposal of lifting restrictions on the voting rights of foreign shareholders

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 20th Mar, 2019) At Etisalat’s Annual General Meeting, AGM, shareholders have backed the board’s recommendation to pay full-year 2018 dividends of 80 fils per share and approved the proposal of lifting restrictions on the voting rights of foreign shareholders.

Etisalat Group consolidated revenues reached AED52.4 billion while consolidated net profit after Federal Royalty reached AED8.6 billion an increase of 2.4 percent compared to the same period last year.

At the AGM, held at the company’s headquarters in Abu Dhabi, Eissa Mohamed Al-Suwaidi, Chairman, Etisalat Group said, "Our journey in 2018, marks another successful year for Etisalat in realising its vision towards driving the digital future to empower societies. As a group, we focused on strengthening our core business, expanding and enriching our digital portfolio, and diversifying into new growth opportunities. We have increased the effort on transforming Etisalat into an agile and more efficient company.

"With the emergence of the digital era, there have been dynamic changes and rapid developments in the global telecom sector. Etisalat maintained its leadership position as it continued to transition to a digital organisation both internally and externally."

He emphasised, "As Etisalat continues its journey, it allows new opportunities with every generation of technology that it adopts. Etisalat envisions 5G as a stepping-stone to unlimited potential, a technology that will enable new use cases, widen possibilities, and enhance value creation. Hence, we were the first to launch the first commercial 5G network in UAE and the region achieving another technological milestone for the company. The fifth generation of the network will fuel digital transformation, IoT, smart cities and the fourth industrial revolution.

"I would like to thank President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for their continued support to the Etisalat Group and the telecom sector.

I would like to express my sincere gratitude to our customers for their steady confidence and our shareholders for their continued support and special thanks to Etisalat management team for their commitment and dedicated work that will drive us to move forward and continue our success."

Saleh Abdullah Al Abdooli, GCEO, Etisalat Group said, "Etisalat Group made further progress this year in its efforts to lead in the digital space, to transform its operating model, and to enhance value and returns to customers and shareholders. 2018 was rich with accomplishments that will enhance the ability to achieve our vision as a group, which is to drive the digital future to empower societies.

"Our portfolio is the most valuable brand in MENA and the first and only brand to surpass the US$10 billion, a great feat that puts Etisalat head to head with global renowned brands and ahead of many key regional brands.

"Currently, Etisalat’s portfolio spans more than 15 countries while serving over 141 million customers. The technology that we provide and enable, brings individuals and societies closer at a local and global level, such firm belief was the drive behind launching our new brand direction "Together Matter" which embodies the power of technology in connecting and enriching people’s lives."

"2018 has also witnessed the launch of e-SIM features for Apple watches, in which Etisalat UAE was the first MENA Telecom operator to offer such a service. While on a parallel track, we have affirmed our position as the preferred IoT provider with key projects like "Hassantuk", which is a landmark partnership with UAE’s Ministry of Interior to deliver the first Smart Fire Alarm solution in the region.