Abu Dhabi – Mubasher: The board of Emirates Telecommunication Group (Etisalat) has proposed to pay out final dividends of AED 3.477 billion for the second half (H2) of 2020.

This proposal brings the full dividends of 2020 to 80 fils per share or 80% of the nominal value of the share, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Tuesday.

The board has also recommended cancelling the company's share buyback programme and distributing, instead, a one-time special dividend of 40 fils per share.

Hence, the total proposed dividend per share for 2020 will reach AED 1.2 per share, representing 120% of the nominal value of the shares.

It is noteworthy to mention that in 2020, the company's net profits attributable to the equity holders increased by 3.8% to AED 9.027 billion from AED 8.693 billion in 2019.