Abu Dhabi – Mubasher: Emirates Telecommunications Group’s (Etisalat) ordinary general meeting’s (OGM) approved the distribution of AED 6.95 billion in cash dividends for the full year of 2017, with a per-share dividend of AED 0.8.

The OGM also accepted a proposal to allocate up to 1% of the company’s average profit in the last two years, or AED 168.2 million, to social responsibility services, the Abu Dhabi-listed firm added in a statement.

The telecom firm posted a 24.16% year-on-year decline in net profits during the fourth quarter of 2017, registering AED 910 million.

Earlier in March, Bloomberg reported that Etisalat was planning to buy back $2 billion shares.