Interim dividend of AED0.13 per share approved

Emirates Integrated Telecommunications Company, du, has approved an interim cash dividend of AED0.13 per share, a total distribution of AED589.3 million, for the first half of 2017.

"We are delighted to announce an interim distribution of AED589.3 million to our shareholders. The interim dividend reflects our progressive dividend policy, which seeks to balance the investment needs of the business, whilst rewarding the commitment and loyalty of our shareholders," said Khalid Balama Al Tamimi, EITC’s Vice Chairman.

Shareholders registered on the company’s share book on the trading date ended 20th September 2017 and settlement 24th September 2017 will be entitled to receive the interim dividend payout.

During the General Meeting, shareholders were also provided with an overview of EITC’s financial performance during the first half of 2017. Highlights included: total revenue increasing by 6.2 percent to AED 3.3 billion, of which mobile revenue increased by 5.2 percent to AED2.3 billion and fixed grew 9.3 percent to AED700 million; within the first half of 2017, EBITDA grew by nearly 10 percent to AED1.4 billion from Q1 2017 to Q2 2017; net profit after royalty for the half year was AED812 million and EITC’s customer base at 30 June 2017 was 8.2 million, an increase of 1.5 percent compared to 30 June 2016.

"EITC has made steady progress in the first half of 2017 and the financial results reflect both the opportunities and challenges of our markets. The business is successfully generating revenue growth whilst mitigating the impact of market conditions, downward pressure on mobile rates and data monetization. EITC continues to invest in new growth opportunities, many of which will support the growth of the UAE government’s digital agenda, helping to create new streams of revenue for the business," added Mr. Al Tamimi.