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Etisalat shareholders approve AED 0.8/shr dividends

Etisalat shareholders approve AED 0.8/shr dividends
The group saw consolidated revenues of AED 52.2 billion
Etisalat
ETISALAT
0.64% 15.64 0.10

Abu Dhabi – Mubasher: Emirates Telecommunication Group’s (Etisalat) shareholders have approved to distribute 80 fils per share as cash dividends for 2019.

The group saw consolidated revenues of AED 52.2 billion, while the consolidated net profits grew by 1% to AED 8.7 billion, according to a recent press release.

During the ordinary general meeting (OGM), The chairman of Etisalat, Obaid Humaid Al Tayer, said that the group has continued to maintain a good financial performance and high credit rating at AA-/Aa3.

Al Tayer added that this long-term stable performance has led to the adoption of 80 fils per share dividends for 2019, representing a 5% yield.

It is noteworthy that in 2019, the group's net profits increased by 0.90% year-on-year (YoY) to AED 8.693 billion from AED 8.615 billion in  2018.