du announces details and commences distribution of cash dividend payment

Emirates Integrated Telecommunications Company (“du”) today announced the details of the AED 0.30 cash dividend payment approved at its Annual General Meeting on 25 March 2013 and also started the process of its distribution.

Shareholders who were registered in the Company’s share book as on Sunday of 4 April 2012 are entitled to receive the dividend effective today, Sunday 21 April 2013.

The distribution of the cash dividend of AED 0.30 per share will commence today, Sunday 21 April 2013. The National Bank of Abu Dhabi, du’s registrar, will be handling all matters related to the distribution of the cash dividend.

“2012 was a year earmarked for delivering sustainable value; not just to our shareholders, customers and employees – but largely to the economy and importantly the country. The du story in 2012 is one of empowerment. Today du has firmly positioned UAE in the global arena as the ICT hub; fostering entrepreneurship, innovation and a conducive business climate equipped with best ICT infrastructure – making UAE the window to access the greater Middle East region,” said Ahmad Bin Byat, Chairman of du.

Elaborating on du’s 2012 performance; Byat added, “We closed the year with a positive cash flow for the second year in a row, ending the year with AED 1.75billion in free cash flow. Our financial position enabled us to declare a second dividend payment of AED 0.30 per share, representing a yield of 8.60%. This is an increase of 100% cash dividend declared in the same period in 2011. This success we’ve achieved within a short span of 6 years is a reflection of our commitment, strong business fundamental and strategic direction set out to deliver value for all our stakeholders”.

Shareholders have two options to receive their cash dividends by way of a cheque or a Bank Transfer.