e& approves 83 fils dividend per share for FY 2024
UAE telecom major e& has approved the board's recommendation of cash dividends of 83 fils (AED0.83) per share for the fiscal year 2024 - further reinforcing the group's commitment to delivering consistent value through a progressive dividend policy announced last year for its shareholders.
The announcement came at its Annual General Meeting (AGM) held today (April 15), where shareholders reviewed the Group's 2024 performance and reaffirmed their confidence in its transformation into a leading global technology group.
Speaking at AGM, Chairman Jassem Mohamed Bu Ataba Alzaabi said: "2024 was another successful year marked by accelerated growth and impressive progress with our strategy to transform into a global technology company."
"e& delivered record consolidated revenues of AED 59.2 billion growing 10.1 per cent, and record net profit of AED 10.8 billion, growing 4.3 per cent in 2024. These achievements were underpinned by key strategic decisions made by the Board, including progressing on geographic expansion and revenue diversification and scaling up digital verticals," he stated.
"These measures have not only reinforced our financial resilience but also positioned e& to capitalise on new opportunities while ensuring sustainable long-term value for our stakeholders," he added.
Alzaabi said: "As we look to the future, e& is committed to growth and transformation across 38 countries in the Middle East, Africa, Asia, and Central and Eastern Europe. Our ambition is to innovate, lead, and deliver greater value for those we serve. Together, we will continue shaping a brighter, more digitally empowered future."
Group CEO Hatem Dowidar said: "2024 was a year of 'more' — more impact, more opportunities, more growth, and more passion for excellence. It marked a successful chapter in our transformation journey as we continued to evolve into a global technology leader."
"We leveraged our presence of telecom and digital services across 38 countries to deliver enhanced dividends and a stronger performance, cementing trust among our stakeholders. Through superior connectivity, advanced digital solutions, and AI-driven innovations, we will continue to empower our customers and the communities we serve," he added.
On the future outlook, Dowidar said: "As we look ahead, we do so with a clear vision: to lead with purpose, collaborate with impact, and innovate for the future. 2025 will see us deepen our focus on digital transformation, scale our AI and data-driven solutions, and drive inclusivity in technology access."
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