The shareholders of Abu Dhabi’s technology conglomerate e& have approved a three-year progressive dividend policy during the company’s Annual General Meeting (AGM).
The new policy will add 3 fils for every share held each year for 2024, 2025, and 2026, bringing the dividend per share (DPS) to Dh0.89 by 2026.
E& shareholders also backed the board’s recommendation to distribute cash dividends of Dh0.40 per share for the second half (July to December) of 2023, representing a total dividend of Dh0.80 per share for fiscal year 2023.
“The newly introduced progressive dividend structure exemplifies our confidence in e&’s success journey and our commitment to delivering growing returns to our shareholders,” said Jassem Mohamed Bu Ataba Alzaabi, Chairman of e&.
“By diversifying our portfolio and introducing cutting-edge products and services, we aim to continue cultivating a technology-powered ecosystem that empowers and improves the lives of our more than 170 million subscribers across our operations,” he added.
In 2023, e& had reported consolidated revenues of Dh53.8 billion and a record net profit of Dh10.3 billion.
