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du AGM approves second dividend of Dh0.19 per share

Dubai: The Board of Directors of Emirates Integrated Telecommunications Company (du) in their Annual General Meeting has approved all agenda points including authorisation of the second half dividend of Dh0.19 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 Dh3.01 billion, a rise of 6.7 per cent year on year. Net profit after royalty rose to Dh1.99 billion. We also recorded near double digit revenue growth to Dh10.80 billion by developing innovative propositions to meet the requirements of our rapidly evolving customer base; a 9.7 per cent revenue increase against 2012.

He continued, “We are delighted to announce the payment of a second dividend of Dh0.19 taking the total annual dividend payment to Dh0.31 per share in addition to the special dividend of Dh0.10 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.