Batelco group approves BD41.58M cash dividends

Total subscriber base at end of 2015 stood at 9 million across the 14 geographies
AGM, Batelco, Cash, Dividends

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Batelco Group held its Annual General Meeting (AGM) on 21 March 2016 for the twelve-months ended 31 December 2015. The group’s 36th AGM saw shareholders approve the recommendation of the Board of Directors for a full year cash dividend of BD41.58 (US$110.29M), at a value of 25 fils per share, of which 10 fils per share was already paid during the third quarter of 2015 with the remaining 15 fils to be paid in the coming weeks.

Speaking on the occasion, Batelco chairman Shaikh Hamad Bin Abdulla Al Khalifa said: “We are pleased to continue to build and return value to our shareholders as demonstrated by the dividend payment, in spite of facing demanding market conditions across a number of our operations.”

“During 2015 the group remained resilient and ended the year with net profits of BD49.5M (US$131.3M) in line with 2014 net profits. At the end of the year, the total subscriber base stood at 9 million across the 14 geographies of the group.”

“Going forward, we are optimistic that our cost containment activities, investment in new and enhanced networks and also our digitisation plans, will boost subscriber numbers and consequently the bottom line,” Shaikh Hamad added.

Shaikh Hamad extended thanks to the shareholders for their attendance saying that their ongoing support for Batelco’s strategies was much appreciated. The Chairman also extended his sincere thanks to his colleagues on the Board of Directors for their unwavering support and to the management teams and employees across the Group for their dedication and efforts.

“For the year ahead, our goal is to play a pivotal role in enabling the integration of the latest technologies in all Batelco Group’s operations to deliver the products, services and solutions relevant for each geography that we operate in. With our strategy we are fit to respond to new trends and technologies with emphasis on the field of digitisation,” he said.

 

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