e& AGM approves dividend for FY 2024

Zawya

16-04-2025

ABU DHABI - e& held its Annual General Meeting (AGM) today, where shareholders reviewed the Group's 2024 performance and reaffirmed their confidence in its transformation into a leading global technology group.
The AGM approved the Board's recommendation for FY 2024 of cash dividend of 83 fils (AED0.83) per share for the fiscal year 2024 — further reinforcing e&'s commitment to delivering consistent value through a progressive dividend policy announced last year for its shareholders.
Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&, stated, '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 AED59.2 billion growing 10.1 per cent, and record net profit of AED10.8 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. 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.'
Alzaabi added, '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.'
Hatem Dowidar, Group Chief Executive Officer of e&, 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.
'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. With the support of our talented teams, trusted partners, and loyal customers, we are poised to continue empowering communities, transforming industries, delivering sustainable value for generations to come, and always go for more.'
e& strengthened its global leadership through strategic investments and high-impact initiatives. The Group was recognised as the 'World's Fastest-Growing Brand' by Brand Finance and expanded its footprint through landmark partnerships and acquisitions.
e& UAE earned global recognition for delivering the fastest mobile network speeds worldwide — a clear reflection of its continued leadership in 5G innovation and infrastructure.
e& has delivered record financial performance in 2024, reporting a consolidated net profit of AED10.8 billion, an increase of 4.3 percent year-over-year (YoY). This milestone reflects three years of strategic transformation, reinforcing the Group's position as a global technology group.
Consolidated revenues reached AED59.2 billion, growing 10.1 percent driven by growth across all business verticals. Consolidated EBITDA rose by 2.7 percent YoY at constant exchange rates, reaching AED26.5 billion. The group's total subscriber base grew to 189.3 million, marking an 11.7 percent increase compared to 2023.
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