Zain Group holds AGM with a quorum of 80.1%

Zain Group holds AGM with a quorum of 80.1%

KUWAIT: The Zain Group Annual General Meeting (AGM) was held at the Zain Group’s headquarters in Kuwait, attended with a quorum of 80.1 percent of shareholders whereby they were presented with the Zain Group’s 2022 annual report which highlights the financial statements, Governance and Auditors reports and the major achievements of Zain Group and its operations and subsidiaries across Middle East and Africa, for the year ended December 31, 2022. Additionally, Zain Group released its 2022 Sustainability Report.

The shareholders approved all items on the AGM agenda, including the recommended cash dividend of 25 percent (25 fils per share) to the shareholders already registered in the company’s record date of Sunday, May 7, 2023. Cash dividends will be paid to shareholders commencing Thursday, May 11, 2023.

Shareholders to earn attractive dividends

This 25 fils dividend for H2 2022 follows the semi-annual dividend of 10 fils distributed earlier in 2022, totaling 35 fils per share for the year and reflects a 2 fils increase on the previous three years and a 78 percent payout ratio, one of the highest in the region.

Notably, the AGM approved Zain’s adoption of a minimum cash dividend policy of 35 fils per share for three years, commencing 2023. It