e& shareholders approve new 3-year progressive dividend policy

e& shareholders approve new 3-year progressive dividend policy

Image Credit: Ahmed Ramzan/Gulf News

Dubai: e& shareholders approved the UAE tech-telecom holding company's recently proposed three-year progressive dividend policy, which will add 3fils for every share held each year for 2024, 2025, and 2026, bringing the dividend per share (DPS) to Dh0.89 by 2026.

The Annual General Meeting (AGM) also backed the board’s recommendation to distribute cash dividends of Dh0.40 per share for the second half (July to December) of 2023, representing a total dividend of Dh0.80 per share for fiscal year 2023, the group said in a statement.

e& shareholders also elected four members of the e&'s 'Private Sector Board of Directors' to fill the four board seats designated for the non-government shareholder. The elected new members are:

1. Sheikh Ahmed Mohamed Sultan Bin Suroor Al Dhahiri – Board member

2. Abdelmonem Bin Eisa Bin Nasser Alserkal – Board Member

3. Khalid Abdulwahid Hassan Alrustamani – Board Member

4. Otaiba Khalaf Ahmed Khalaf Al Otaiba – Board Member

Record 2023 net profits

e& had recorded consolidated revenues of Dh53.8 billion and a record net profit of Dh10.3 billion in 2023. "The group’s rapid evolution was further reinforced by its 2024 Brand Finance ranking as MEA's Fastest Growing Technology Brand and the most valuable TMT brand