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e&’s shareholders greenlight 3-year progressive dividend policy

e&’s shareholders greenlight 3-year progressive dividend policy
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Abu Dhabi – Mubasher: The annual general meeting (AGM) of e& approved a new progressive dividend policy with an annual incremental increase of AED 0.03 for the years 2024, 2025, and 2026.

The raise will bring the dividend per share (DPS) to AED 0.89 by 2026, according to a press release.

The shareholders also backed the board’s recommendation to distribute cash dividends of AED 0.40 per share for the second half (H2) of 2023, making the total dividend of AED 0.80 per share stand at 2023.

The group’s rapid evolution was further reinforced by its 2024 Brand Finance ranking as MEA's Fastest Growing Technology Brand and the most valuable TMT brand portfolio valued at $17 billion in 2024.

Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&, said: “The newly introduced progressive dividend structure exemplifies our confidence in e&'s success journey and our commitment to delivering growing returns to our shareholders.”

“By diversifying our portfolio and introducing cutting-edge products and services, we aim to continue cultivating a technology-powered ecosystem that empowers and improves the lives of our more than 170 million subscribers across our operations,” Alzaabi added.

He concluded: “I am confident that we will continue to push boundaries to drive long-term success and enable our customers and shareholders to seize the opportunities of the digital future.”

The group’s consolidated revenue hit AED 53.80 billion in 2023, a growth of 2.50% year-over-year (YoY), highlighting the group’s successful business transformation.

Hatem Dowidar, Group CEO of e&, commented: “Our global expansion journey goes beyond extending our footprint to strategically positioning us in key markets, transcending telecoms to redefine connectivity across diverse technology sectors and empowering communities.”

“With a strategic focus and an eye for purpose-driven progress, 2023 has been an incredibly remarkable and rewarding year for e&, underscoring its commitment to pursuing opportunities that create long-term and meaningful impact,” Dowidar indicated.