ETISALAT Board announces 25 per cent dividend to shareholders and 25 per cent increase in gross profit posted on 27/02/2006 The Board of Directors of Emirates Telecommunications Corporation- ETISALAT - has convened to approve the 2005 financial year results, and present its resolutions and recommendations. The meeting was held in the ETISALAT Headquarters in Abu Dhabi under the Chairmanship of Mohammad Hassan Omran, Chairman and CEO, ETISALAT.
The Board thanked HH Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, and all other leaders of the nation for their guidance and support to ETISALAT, which has encouraged them to perform well and achieve good results in connecting the UAE with modern and innovative telecommunications solutions. The Board passed a resolution to pay a 25% dividend to shareholders for the second half of 2005, at Dh0.25 per share. This is in addition to the dividend of Dh0.25 per share announced at the end of the first half of 2005. The total dividend for shareholders in 2005 is therefore Dh0.50 per share. A recommendation was made by the Board to increase the authorised capital of the Corporation from Dh4 billion to Dh8 billion. An issue of 907,500,000 shares at Dh1 each as bonus shares to shareholders in the ratio one share for every four held, or 25% of total holding, was also recommended. A new private company is to be established under 'e-marine'- a wholly-owned ETISALAT subsidiary. Amendments have also been recommended concerning the basic structure of the Corporation, and full details of these will be announced as soon as they have been approved at the plenary session The Board also announced that the Corporation has earned total revenue of Dh12.9 billion and gross profits of Dh8.5 billion, before payment of 50 per cent of gross profit as royalty to the UAE Federal Government. The 2005 figures indicate an increase in total revenue and gross profits of 23 and 25 per cent respectively. During the year the assets of the Corporation increased to a total of Dh24.1 billion, up by Dh3.7 billion or 18% from the previous year. Earnings per share also increased from Dh0.94 in 2004 to Dh1.17 in 2005. The year witnessed commendable growth in all major areas. Mobile connections reached 4.5 million lines, a 23% increase over 2004. This service has remained the main contributor to revenue, with a share of 58% during the year. The UAE can now boast of nearly 100 per cent penetration - this is comparable to the most advanced countries in the world. Fixed lines also saw a marginal growth of 4% to reach 1.2 million installed lines. Total Internet connections, including high-speed internet access, crossed the half million mark during the year. Every year, ETISALAT contributes 50% of its profits as royalty payment to the Government for services rendered. ETISALAT's contribution to the national exchequer by way of royalty this year stands at AED 4.256 billion, and the beneficiaries include the UAE Marriage Fund and the Sheikh Zayed Housing Programme, among others. ETISALAT has contributed Dh28.28 billion to the exchequer since its inception. This is in addition to the dividend of 50% of the face value of the shares declared during the last 15 years, and the Bonus Shares issued by the Corporation on several occasions. (AMEInfo.com) --- Mark <[EMAIL PROTECTED]> wrote: > Seemed to have gotten corrupted in the mail server > for me. It had to be > deleted from an Admin level. > > Suzanne Bowen wrote: > > >No problems for me whatsoever, Mark. I've spoken to > about 20 others on this > >list about VoIP in general since I read this email. > In fact, it was one of > >our topics of conversation because of the business > implications. None of > >them had problems with the email either. In fact, > it was very informative. > >Thanks for asking, Mark. > > > > > >Suzanne Bowen > >Super Technologies, Inc. > >Pensacola, FL 32501 USA > >tel: 8504396611, 2127363719 > >------------------------------------ > > > > > >-----Original Message----- > >From: [EMAIL PROTECTED] > >[mailto:[EMAIL PROTECTED] > Behalf Of Mark > >Sent: Monday, February 27, 2006 1:53 PM > >To: Commercial and Business-Oriented Asterisk > Discussion > >Subject: Re:[asterisk-biz] [pashagroup] Etisalat > confirms to take over > >PTCLin 2 weeks - News by GEW > > > > > >[asterisk-biz] [pashagroup] Etisalat confirms to > take over PTCL in 2 > >weeks - News by GEW > > > > > >Did this message cause problems for anyone else or > just me? > >_______________________________________________ > >--Bandwidth and Colocation provided by Easynews.com > -- > > > >asterisk-biz mailing list > >To UNSUBSCRIBE or update options visit: > > > http://lists.digium.com/mailman/listinfo/asterisk-biz > > > > > >_______________________________________________ > >--Bandwidth and Colocation provided by Easynews.com > -- > > > >asterisk-biz mailing list > >To UNSUBSCRIBE or update options visit: > > > http://lists.digium.com/mailman/listinfo/asterisk-biz > > > > > > > > > > > > _______________________________________________ > --Bandwidth and Colocation provided by Easynews.com > -- > > asterisk-biz mailing list > To UNSUBSCRIBE or update options visit: > > http://lists.digium.com/mailman/listinfo/asterisk-biz > __________________________________________________ Do You Yahoo!? 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