Page 20 - SAMENA Trends - February-March 2021

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

us to reflect and transform at group level manner that was safe for our employees achieved many historical milestones, from
to affirm our position as a leading world- and customers. This was all possible being recognized as the fastest mobile
class telco. “It was indeed a challenging due to the relentless effort towards network in the world, to being crowned the
year, however across our operations we realizing our vision while investing for strongest brand in Middle East and Africa
remained committed and took necessary growth, sustaining a world-class telecom and the most valuable telecom portfolio
steps to support our customers and the infrastructure, retaining differentiated brand for a fifth year in a row,” said Eng.
communities we serve. Our prime focus assets, platforms, and capabilities integral Hatem Dowidar, CEO of Etisalat Group.
was to ensure business continuity and the to building a network for a better future
sustainability of high-quality services in a across our operations. As a result we have

Etisalat AGM Approves a Record Total Dividend Per Share for the Year 2020
of AED 1.20, Inclusive of 40 Fils Special Dividend

At Etisalat’s Annual General Meeting (AGM), shareholders have transformative business enabled us to meet customer demands
backed the board’s recommendation to pay full-year 2020 for quality services during the lockdown, while generating
dividends of 80 fils per share, approved the cancellation of the shareholder value and returns. I would like to express my gratitude
share buyback program and instead agreed to a one-time special to the visionary UAE leadership for their continuous support,
dividend of 40 fils per share, bringing the total dividend per share for the loyalty of our customers and the trust of our shareholders.
2020 to AED 1.20. The AGM backed the board’s recommendation I also want to extend my appreciation to Etisalat’s management
to increase the non-UAE nationals share ownership limit to 49 team for their contribution to the company’s success and
percent. The AGM also elected four board members to fill the commitment during a challenging year while working towards
seats of Etisalat Group’s Board of Directors that are not reserved achieving our vision and strategic goals.” Eng. Hatem Dowidar
for the Government Shareholder. The elected members are: CEO, Etisalat Group said: “In 2020 we have delivered robust
• Sheikh Ahmed Mohamed Sultan Al Dhahiri financial performance with consolidated revenues reaching AED
• Mr. Abdelmonem Bin Eisa Alserkal 51.7 billion while consolidated net profit after federal royalty
• Mr. Khalid Abdulwahid Hassan Alrustamani amounted to AED 9.0 billion, an increase of 3.8 percent compared
• Mr. Otaiba Khalaf Ahmed Al Otaiba to the previous year. Despite the challenges, a strong execution,
Etisalat Group also announced that the Emirates Investment an agile and resilient business model led to EBITDA reaching AED
Authority, as the government shareholder in the company, has 26.4 billion with a growth rate of 0.3 percent and a margin of 51.1
appointed its representatives in the Etisalat board as the following: percent. During these challenging times, we advanced our efforts
• H.E. Jassem Mohamed Alzaabi, Chairman to digitally transform our business both internally within the
• Mr. Essa Abdulfattah Kazim Al Mulla company and externally to all our customers, this led to increasing
• Mr. Hesham Abdulla Qassim Al Qassim our subscriber base by 3.6 percent reaching a total of 154 million
• Ms. Mariam Saeed Ahmed Ghobash subscribers. This growth is central to our belief that the network
• Mr. Saleh Abdulla Ahmed Al Abdooli and infrastructure has played a key role in empowering millions
• Mr. Mansoor Ibrahim Ahmed Almansoori of customers during the pandemic. In the new normal, telecoms
• Mr. Michel Combes and digital technologies have become the anchor of our lives -
The new board of directors will begin their duties with the start be it remote working or virtual classrooms, our networks ensured
of the new term of the board scheduled to begin on 21 March that the world did not come to a standstill. Innovations in telecom
2021. H.E. Obaid Humaid Al Tayer, Chairman, Etisalat Group said: and digital technologies have altered the fabric of life, becoming a
“I am pleased to announce that our shareholders approved the necessity and a human right in a digitally connected world.
recommendation of the Board of Directors to proceed with a
record high full year dividend payout. Another historical milestone
was the approval of 49 percent ownership limit of non-UAE
nationals that will help diversify the investor base and add further
value to our current shareholders as well as bring liquidity and
depth in Etisalat’s financial capabilities. Thanks to the Group’s
talented workforce and investment acumen, Etisalat was able to
deliver on its vision in the current macro-economic climate. The
unprecedented economic headwinds caused by COVID-19 have
certainly demanded agility across our operations and we have
demonstrated capabilities to quickly adapt to the present market
conditions. Etisalat continued its focus on enhancing the core
business and exploring new growth opportunities, while being
well geared for the future with its digital capabilities and solutions.
Etisalat’s dedication to continue to build a robust, agile and

20 FEB-MAR 2021