Dubai: Etisalat said on Thursday its net profit after royalty for 2014 jumped by more than a quarter to be at Dh8.9 billion.
The company recorded revenues of Dh48.8 billion last year, up 26 per cent on year. The company proposed a final dividend payout of 70 fils per share for 2014, representing a dividend payout ratio of 62 per cent and a dividend yield of 6 per cent. Etisalat also proposed bonus shares of 10 per cent.
“It’s a decent distribution of dividend and bonus shares especially when the company has commitment to expand in Morocco,” Tariq Qaqish, head of Al Mal Capital told Gulf News.
Etisalat said its aggregate subscriber base reached 169 million representing a net addition of 21 million subscribers during the last 12 months.
“2014 was an auspicious year for Etisalat, It is one where the company has experienced growth across the business, which has seen increased revenues and profits, as well as growth in the number of subscribers, but also seen our footprint grow internationally,” Eissa al-Suwaidi, chairman of Etisalat, said in a statement.
The company’s consolidated net profit after royalty increased to Dh2.1 billion in the fourth quarter of 2014, up 47 per cent year on year. Revenues in the fourth quarter grew year on year by 11 per cent to Dh7.0 billion and 3 per cent quarter over quarter. Shares of Etisalat ended more than 3 per cent higher at Dh12.050 on Thursday on Abu Dhabi Securities Exchange (ADX).
