Dubai, UAE, 27th March 2017
Emirates Integrated Telecommunications Company PJSC (“du”) today held its General Meeting at Al Salam Tower, Dubai Media City, where the proposed final dividend of AED 0.21 per share for the 2nd half of the fiscal year ending 31 December 2016, was approved, bringing the annual dividend payment for 2016 to AED 0.34 per share. This includes an AED 0.13 per share interim dividend paid in October 2016.
du Chairman, Ahmad Bin Byat, presented the Board of Directors’ report of the Company’s activities and its financial position for the year 2016. Highlights of the financial performance included a 12% increase in the number of mobile subscribers to 8.65 million at the end of 2016 (2015: 7.72 million), fixed line revenue increase of 4.4% year on year to AED 2.67 billion, and reaffirmation of the 2016 revenue increase to AED 12.73 billion.
During the meeting, the auditors for the fiscal year 2017 were announced.
Ahmad Bin Byat, Chairman of du, said: “As a result of our financial performance, we are delighted to announce a final dividend of AED 0.21 per share, bringing the total annual dividend to AED 0.34 per share.
“We remain firmly committed to improving the lives of UAE citizens through the development of a digitally-enabled ecosystem. During 2016, we continued to progress and integrate smart initiatives throughout our business, in accordance with the UAE’s Smart Government ambitions and Vision 2021. We are both honoured and excited to be part of the strategy that will support the evolution of our country and improve the lives of UAE residents for generations to come.”
All shareholders that are registered in the company share-book as at 6th April 2017 will be entitled to receive the dividend. Shareholders are requested to update their contact details in Dubai Financial Market records to ensure receiving their dividends appropriately.
About Emirates Integrated Telecommunication Company PJSC (EITC)
The Emirates Integrated Telecommunications Company (EITC) was founded in 2006 as the UAE’s second licensed telecommunications provider. EITC has two telecommunications brands under its umbrella; du was launched in 2007 and serves 9 million active subscribers and over 100,000 businesses throughout the UAE. EITC recently introduced its second brand Virgin Mobile in the market.
EITC is 39.5 percent owned by Emirates Investment Authority, 19.75 percent by Mubadala Development Company PJSC, 19.5 percent by Emirates Communications and Technology LLC and the remaining by public shareholders. Listed on the Dubai Financial Market (DFM), the company trades under the name ‘du’.
© Press Release 2017
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