Ooredoo AGM Approves the Agenda and the Distribution of
35% Cash Dividend
March 5, 2018
Ooredoo’s Ordinary General Assembly meeting took
place today, as shareholders discussed and approved the
company’s Corporate Governance Report and financial statements
for 2017.
During the meeting, shareholders approved the
recommendation of the Board of Directors to distribute a cash
dividend of 35% of the nominal share value (QR3.5 per share).
In his address, H.E. Sheikh Abdulla Bin Mohammed
Bin Saud Al-Thani, Chairman, Ooredoo, said: “Ooredoo delivered
positive results across our markets in 2017, and we have built
strong networks and an appealing range of digital products and
services that will serve as the foundation for our next stage of
growth and digital transformation.”
“Our efforts are sustained by a vibrant and
successful brand. The Ooredoo brand has rolled-out across all
our major markets, and our message about “Enriching Digital
Lives” resonates with young people from Tunis through to
Jakarta, and of course with the youth of Qatar, Kuwait and
Oman,” he added.
Highlights from 2017 include Group revenue
increasing to QR32.7 billion, driven by strong contributions
from Indonesia, Iraq, Kuwait, Maldives and Oman. Excluding
Foreign Exchange translation impact, revenues increased by 2%,
compared to the reported 1% revenue increase. The company’s
customer base increased 18% to 164 million.
Group EBITDA (earnings before interest taxes
depreciation and amortization) increased 3% to QR13.8 billion
with a corresponding increase in EBITDA margin to 42%. Group Net
Profit to Ooredoo shareholders was QR2.0 billion.
Importantly, data revenue stood at QR15.3 billion
in 2017, up 16% from QR13.1 billion in 2016, and Group revenue
from business services was QR5.5 billion.
H.E. Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani,
Ooredoo Chairman, said: “Our growth in data and business
services underlines the important strategic shift that Ooredoo
is making. Years ago, we recognized that data and digital
services were the future – we are now reaching the point where
these services will surpass the revenue that the Group generates
from voice and SMS. To sustain this growth, we will continue to
build our global network and take a lead in 5G services.”
During the AGM, the following items were approved:
1.
To hear and approve the Board’s report for the year ended 31
December 2017, and discuss the company’s future business plans.
2.
To discussing the Corporate Governance Report for the year 2017.
3.
To hear the External Auditor’s report for the year ended 31
December 2017.
4.
To discuss and approve the company’s financial statements for
the year ended 31 December 2017.
5.
To discuss and approve the Board of Directors’ recommendations
regarding the distribution of dividends for the year 2017.
6.
To Discharge the members of the Board from liabilities and
determine their remuneration for the year ended 31 December
2017.
7.
To appoint the external auditor for the year 2018 and determine
their fees.
8.
To elect Board Members.
It should be noted that the
following members were appointed members of Ooredoo Board of
Directors:
-
H.E. Sh. Abdulla Bin
Mohammed Bin Saud Al Thani (Chairman)
-
Mr. Ali Shareef Al
Emadi (Member)
-
Mr. Mohammed Bin Eissa
Al Mohannadi (Member)
-
Dr. Nasser Mohammed
Marafih (Member)
-
Mr. Aziz Aluthman
Fakhroo (Member)
Also, the following candidates were elected members
of the Ooredoo Board of Directors:
-
Mr. Nasser Rashid Al
Humaidi (Member)
-
Mr. Ibrahim Abdullah
Al Mahmoud (Member)
-
General Retirement &
Social Insurance Authority – represented by H.E. Turki
Mohammed Al Khater (Member)
-
Ali Bin Ghanim
Al-Thani Group – represented by Sh. Ali Bin Ghanim Al Thani
(Member)
-
Qatar National Bank
(QNB) – represented by Mr. Ali Ahmed Al Kuwari (Member)
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