UAE telco du proposes interim dividend as H1-2023 net profit rings up Dh767.8m

UAE telco du proposes interim dividend as H1-2023 net profit rings up Dh767.8m

du's made gains on revenues and profits helped by a growing subscriber base and their interest in higher margin services from the telco.

Image Credit: Supplied







Dubai: New residents streaming into the country and continued demand from existing subscribers rang up revenues of Dh6.78 billion for the telecom operator du in H1-23, up from Dh6.26 billion a year ago. That then brought on a profit of Dh767.68 million for the Dubai-headquartered company, a sharp increase on the Dh613.9 million a year ago.



du, in its statement, said that an interim cash dividend of 13 fils a share - amounting to Dh589,278,000 - has been proposed.









du had paid dividends of Dh589.27 million on April 6, 2023 as its 2022 payout.



Dividend decision





"We remain committed to continuously improving our operational efficiencies and advancing our transformation projects, both of which are integral to our ongoing success," said Malek Al Malek, Chairman.















"Considering these factors and our solid performance, it is with pleasure that I announce the Board of Directors’ approval of an interim half-year cash dividend distribution of Dh0.13