Operator decided to distribute special dividend after registering higher profits and revenues
Shareholders of Emirates Integrated Telecommunications Company (Du) approved two dividend payments during a meeting on 19 August.
Dubai-based Du announced it will distribute a special dividend payment of AED0.10 per share and start an interim dividend payment of AED0.12 per share, after reporting a net profit of AED474m ($129m) in the second quarter of 2013, a year-on-year increase of 45.64 per cent. The dividends will be paid by the first week of September.
In recent years Du has become a major competitor for more established telecoms operators such as Abu Dhabi-based Etisalat, prompting them to rethink their strategies and operational models.
In a conference call with journalists in July, Du chief executive officer Osman Sultan said the operator is looking at international expansion, but has not decided on a specific strategy yet.
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