News

Du to give 19% dividend for H2

By Staff Published: 2014-03-26T04:58:00+04:00

Emirates Integrated Telecommunication Co.’s (du) Annual General Meeting has approved Dh0.19 per share cash dividend for the second half of 2013.

“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,” Ahmad Bin Byat, du’s Chairman, said in a media statement.

“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, a 9.7 per cent revenue increase against 2012,” he added.

Shareholders that are registered in the company sharebook on April 6, 2014, will be entitled to receive the dividend which will be paid by last week of April 2014.

The company noted in a statement to the Dubai bourse that its AGM also approved appointment of Masood Mahmood as new Member of Board of Directors, replacing Jassem Al Zaabi.

Du’s AGM also approved company’s financial statements along with profit and loss accounts for 2013, discharged and released the board from all liability for the fiscal year ending December 31, 2013.

It also approved directors’ remuneration and appointment of auditors.

Du's profit for 2013 was little changed at Dh1.99 billion ($542 million), up from Dh1.98 billion in 2012.