‎UAE’s Yahsat to form new partnerships in 2022, sees 2% rise in annual dividends

‎UAE’s Yahsat to form new partnerships in 2022, sees 2% rise in annual dividends

Al Yah Satellite Communications Co. (Yahsat) will enter into new partnerships this year, to maintain the strong performance of its segments.

The company will continue growth trajectory to realize its strategic objectives, maximize value-added services to its clients, shareholders and the global space sector in 2022, Yahsat told Argaam in an interview on the sidelines of the World Defense Show, held in Riyadh.

The Abu Dhabi-listed company capitalized on the normalization of government projects in the fourth quarter of 2021. It entered into new agreements with many national firms, thanks to the state’s economic recovery. Yahsat also worked on diversifying its client base in the government and commercial sectors, and expanding in the major industrial sectors to maintain its success in 2022.

The establishment of next-generation Thuraya 4-NGS satellite is proceeding as scheduled. Thuraya 4-NGS operations are scheduled to commence in the second half of 2024. The satellite is expected to account for nearly 85% of the 2022 capital expenditure and investments, which are estimated at AED 698 million. These investments are to be fully financed by existing loans, the company added.

Meanwhile, Yahsat forecast a 2% rise at least in its annual dividends. Total dividend for the fiscal year 2022 is projected to