du Annual General Meeting approves second dividend of AED 0.19 per share

DUBAI: The Board of Dirctors of Emirates Integrated Telecommunications Company (du) in thier Annual General Meeting has approved all agenda points including authorisation of the second half dividend of AED 0.19 per share. Commenting on the Company’s performance, du’s Chairman Ahmad Bin Byat said, “We are proud to report another year of strong performance. For the seventh year running, we recorded robust fundamentals due to our dedication to creating shareholder value and delighting our customers. “Our net profit before royalty was comfortably up on 2012 to AED 3.01 billion, a rise of 6.7% year on year. Net profit after royalty rose to AED 1.99 billion. We also recorded near double digit revenue growth to AED 10.80 billion by developing innovative propositions to meet the requirements of our rapidly evolving customer base; a 9.7% revenue increase against 2012.

He continued, “We are delighted to announce the payment of a second dividend of AED 0.19 taking the total annual dividend payment to AED 0.31 per share in addition to the special dividend of AED 0.10 declared and paid in September 2013. I believe that this demonstrates our commitment to shareholder value and our ability to deliver on our commitments. Since inception, we have established a coherent strategy for the future of our business, all creating sustainable value for our shareholders.

As our company enters a phase of maturity, we will seek to build on this value to provide our customers with superior service and an excellent range of products” “Going forward, we are proud to be working under the umbrella of the UAE’s 2012 Vision to implement Smart Government and we look forward to contributing to the transformation of Dubai into a Smart City,” he added. Shareholders that are registered in the company sharebook on 6 April 2014 will be entitled to receive the dividend which will be paid by last week of April 2014.

SOURCE: WAM