Skip to content Skip to Search
Skip navigation

UAE telco announces cash dividend details 

By Pramod Kumar
WAM
Company executives addressing the group's annual general meeting

UAE telco e& will pay a cash dividend for the second half of 2022 at AED0.4 per share, taking the annual dividend per share to AED0.8 for the last year.

Jassem Mohamed Bu Ataba Al Zaabi, chairman of e&, said the company’s core businesses have sustained solid performance while new business verticals and merger and acquisition activities have significantly contributed to their success, state-run WAM news agency reported.

Earlier this week e& secured a majority stake in Uber’s Middle East subsidiary Careem’s super app business for $400 million.

In February the Dubai Financial Market-listed firm acquired online marketplace Service Souk DMCC (ServiceMarket) for AED81 million ($22 million). 

e& posted a 7.4 percent growth in consolidated net profit to AED10 billion in 2022 as revenues rose 4.7 percent to AED52.4 billion, following expansion into new business verticals and diversifying revenue streams.

Consolidated earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 3.7 percent to AED26.2 billion, leading to an Ebitda margin of 50 percent.

The group’s aggregate subscribers reached 163 million in 2022, up 2.5 percent year-on-year.

Latest articles

Saudi Rotana Dakar Senegal

Rotana reveals plans to reflag hotels in Saudi Arabia

Rotana, the Abu Dhabi-based hospitality company, is looking at aggressive expansion in Saudi Arabia, including taking over already operational hotels, its chief executive has revealed to AGBI. At this month’s Arabian Travel Market, Rotana outlined plans to launch nine new properties in Saudi Arabia within four years, aiming to double its rooms to more than […]

ADIA bid Haldiram

ADIA consortium bids for stake in India’s largest snack maker

A consortium including Abu Dhabi Investment Authority (ADIA) has submitted a bid to acquire a controlling stake in the snacks business of India’s Haldiram, according to a media report. The consortium, which also include US-based alternative asset manager Blackstone and GIC of Singapore, aims to secure 75 percent of the Indian company’s snacks unit, valuing it […]

Dubai’s Spinneys plans Saudi entry as profit rises 13%

First quarter 2024 net profit at Spinneys rose 13 percent year on year to AED75 million ($20.4 million) as it targets opening its first stores in Saudi Arabia. Revenue grew by 11 percent annually to AED815 million over the period, driven by higher retail revenue, the supermarket operator said in its first quarterly results after listing […]

Boat, Transportation, Vehicle

AD Ports Q1 revenue doubles on robust business growth

Revenue for the first quarter of 2024 at the UAE’s AD Ports Group more than doubled year on year to AED3.9 billion ($1.1 billion). The topline was supported by its maritime and shipping, ports and logistics divisions. Mergers and acquisitions, including that of Spanish integrated logistics company Noatum and Dubai container shipping company Global Feeder […]