Vodafone Qatar held its annual general assembly, which approved the board’s proposal to distribute a cash dividend of 11% of the nominal share value of QR0.11 per share.
Addressing the shareholders, Vodafone Qatar vice chairman HE Akbar al-Baker said: “2023 was a seminal year for Vodafone Qatar and one in which we successfully leveraged our technological capabilities to position ourselves at the forefront of the telecommunications sector. From the utilisation of Artificial Intelligence to the development of the Internet of Things, we have embedded innovation at the heart of our operations to ensure we are continually providing cutting-edge connectivity to our customers.
“Collaboration is the key to growth and we have forged prosperous partnerships with a wide range of world-class technological institutions, including Nokia and Microsoft to further develop our products and capabilities. This climate of cooperation is one that we carry into 2024 as we continue working with trusted partners on the domestic and international stage to strengthen Vodafone Qatar's vision, Together We Can.”
Al-Baker added: “In 2023, the company reported a net profit of QR540mn, a 7.5% increase compared to the previous year. Total revenue, excluding the World Cup’s impact in 2022, increased by 6.1% year-on-year reaching QR3.1bn, due to continued growth across various business segments, including fixed broadband services, managed services, IoT and others. However, the reported total revenue for the year increased by 1.5%. EBITDA increased to QR1.3bn, reflecting a growth of 4.2% compared to last year.”
During the meeting, under the supervision of Ministry of Commerce and Industry representatives, the election of one independent member to the board of directors took place to fill a vacant seat for the remainder of the current board term (2022-2024). Alnowar Mohamed M S Al-Kulaifi was elected by majority votes.