Du declares cash dividend

Emirates Integrated Telecommunications Company (Du) concluded the company's Annual General Meeting earlier today. Du's Chairman, Ahmad Bin Byat, presented a review of 2011 at the meeting. Commenting on the Company's performance, Mr Bin Byat said: "2011 has been an impressive year, and we continued to deliver record results. Our net profit before royalty has grown significantly, increasing to Dh1.8 billion in 2011, an impressive 48% increase year-on-year. Following an announcement by The Federal Government, setting the Royalty charge for 2011 at a rate of 15% of net profit and 5% of revenue, our net profit after royalty reached Dh1.1 billion. "The payment of our first dividends of 15 fils per share for 2011 celebrates the solid financial position that we have built in the market," the operator said in a press release.