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Ooredoo approves distribution of 40% cash dividend

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Staff writer ▼ | April 1, 2014
The Annual General Meeting (AGM) of Ooredoo QSC approved the recommendation of the Board of Directors to distribute a cash dividend of 40 percent of the nominal share value (QR 4 per share).
Ooredoo
OoredooThe Annual General Meeting (AGM) of Ooredoo QSC approved the recommendation of the Board of Directors to distribute a cash dividend of 40 percent of the nominal share value (QR 4 per share).


In addition, shareholders elected Ibrahim Abdulla Al-Mahmoud to fill the vacant position on the company's Board of Directors.

In his address, Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman, Ooredoo, highlighted some of the achievements of the last financial year, including the global launch of the Ooredoo brand, and subsequent national launches in markets like Qatar, Algeria and the Maldives.

In addition, he discussed the company's success in winning a commercial licence for Ooredoo's newest market, Myanmar, and the company's progress in rolling out 4G and fibre services in several key markets. In addition, Ooredoo companies launched 3G services in Tunisia and Algeria during 2013.

Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman, Ooredoo, said: "Transforming our company into Ooredoo was always about much more than simply changing our name. The transformation process was about taking our company to the next level, bringing our strategy to life with a new, dynamic brand and leveraging our combined resources to transform our customer offering."

Ooredoo has continued to be one of the fastest-growing communications companies in the world, thanks to diversification and in particular due to a strong focus on data services across its footprint. Ooredoo's consolidated revenue increased by 1 percent to QR 33.9 billion (FY2012: QR 33.5 billion), while net profit attributable to Ooredoo shareholders went down by 12.5 percent to QR 2.6 billion (FY 2012: QR 2.9 billion).

Normalised FY2013 net profit attributable to Ooredoo shareholders (excluding currency loss, one-off tower sale gain in Indosat and start-up cost in Myanmar) stood at QR 3,342 million, a 16 percent increase over FY2012. The company now has 95.9 million customers across its regional footprint.

In its home market of Qatar, Ooredoo saw healthy revenue growth, expanding its total number of customers by 13 percent to 2.9 million, with particularly strong growth in mobile broadband, entertainment services and through its Ooredoo Fibre programme, which passed more than 245,000 homes by the end of 2013.


 

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