He confirmed that obtaining a seat on the board of directors of Vodafone International is under study
Hatem Dowidar, CEO of the Emirati “e& Group”, revealed, in an interview with “Al Arabiya” today, Tuesday, that the Emirates Telecommunications Group plans to launch a new cooperation framework with the global Vodafone Group, within weeks.
Dowidar said that the “e& Group” share in Vodafone International Group shares approached the 15% barrier.
He pointed out that the group has a great ambition to obtain government approvals to increase its stake amounting to 28% in the shares of Etihad Etisalat Company, “Mobily”, Saudi Arabia.
The Board of Directors of the Emirates Telecommunications Group recommended distributing cash dividends to shareholders for the second half of last year at the rate of 40 fils per share, thus bringing the total distributed by the company for the year 2022 to 80 fils per share, which is in line with the distributions of 2021 and 2020.
This comes on the back of the company achieving a profit growth of 7% year-on-year last year to 10 billion dirhams.
The profit for the last quarter grew 25% year-on-year to 2.7 billion dirhams.
As for the recommendations of analysts for the stock, according to a Bloomberg survey, 80% recommend selling the stock, while 20% recommend keeping it.