The decision was taken during a board meeting held on Monday (Feb. 22) at Etisalat’s headquarters in Abu Dhabi. With the 25 percent dividends of nominal share value for the first half of 2009, the total of distributed dividends of nominal share value for the year 2009 now reaches 60 percent.

The board also recommended to the general assembly to issue 10 percent bonus shares (one bonus share for every 10 shares).

Etisalat’s Chairman Mohammed Hassan Omran and board members lauded the group’s outstanding performance for the year 2009, with net revenue of AED30.8 billion, an increase of five percent over 2008 results. Net profit recorded for the group in 2009 was AED8.8 billion compared to AED8.5 billion in 2008, which included profit on sale of shares in Mobily of AED892 million after federal royalty.

Excluding this exceptional item, the net profit after federal royalty for the year 2009 would have increased by AED1.2 billion, which is 16 percent higher than 2008.

The comparative results for the financial year 2008 have been adjusted to comply with “International Financial Reporting Standards” that have been adopted for the first time in 2009 financial year. Omran said: “Etisalat’s financial results during the year 2009 met expectations. We achieved excellent results both financially and operationally in all of our markets. Etisalat now provides services in 18 markets across the Middle East, Africa and Asia.”

Etisalat achieved large growth in the number of customers across its international footprint, which now total 100 million.