E& shareholders approve 83 fils dividend per share for FY 2024

16/04/2025 03:21 AST

E& shareholders on Tuesday approved the Board's recommendation for FY 2024 of cash dividend of 83 fils (Dh0.83) per share for the fiscal year 2024.

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 Dh59.2 billion growing 10.1 per cent, and record net profit of Dh10.8 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."

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.

E& delivered record financial performance in 2024, reporting a consolidated net profit of Dh10.8 billion, an increase of 4.3 per cent 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 Dh59.2 billion, growing 10.1 per cent driven by growth across all business verticals. Consolidated EBITDA rose by 2.7 per cent YoY at constant exchange rates, reaching Dh26.5 billion. The group's total subscriber base grew to 189.3 million, marking an 11.7 per cent increase compared to 2023.

Khaleej Times