Beyon AGM approves BD53.9M cash dividend

TDT | Manama

Email: mail@newsofbahrain.com

Beyon held its Annual General Meeting (AGM) yesterday for the twelvemonths which ended on 31 December 2024 at the Beyon campus in Hamala, Bahrain.

The meeting was attended by Beyon’s Chairman, board members, executive management and Beyon’s external auditor, KPMG Fakhro. Representatives from Central Bank of Bahrain, the Ministry of Industry & Commerce, Bahrain Bourse and shareholders were also present.

Shareholders approved the recommendation of the Board of Directors for a full year cash dividend of BD53.9M (US$143.0M), which includes a dividend of 32.5 fils per share. The 2024 interim dividend of 13.5 fils per share was already paid during the second quarter of 2024 with the remaining dividend of 19.0 fils announced during the meeting to be paid on 21 April 2025.

Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa commented, “Beyon’s solid performance in 2024 reflects our commitment to delivering value to our shareholders. Our results highlight the success of our digital transformation journey and our commitment to implementing our strategic growth plans, which enable us to generate positive returns on shareholder investment, in line with expectations.”

Concluding his remarks, Shaikh Abdulla expressed his gratitude to the shareholders, Board of Directors, executive management, and all team members for their invaluable contributions toward Beyon’s success in 2024.

During the AGM, Beyon CEO, Andrew Kvaalseth, presented an overview of the key achievements accomplished throughout 2024, highlighting the solid financial performance and operational milestones. The CEO also outlined ambitious strategic growth plans for 2025 with a focus on the development of the company’s core business segments in telecommunications, connectivity and digital growth.

“We ended 2024 with strong momentum across the business, delivering growth in our core telecom operations and significant gains across our digital ventures,” said Mr. Kvaalseth. “Our digital companies are scaling rapidly and establishing meaningful market presence across the region.” Adding, “Looking ahead, our plans include doubling down on innovation, intelligent digital infrastructure and customer-centric solutions that support consumer experiences in an increasingly connected world.”“The success of the past year was made possible by the collective efforts of our global teams, and we look forward to building on this success with their support, to ensure another year of growth and significant accomplishments,” Mr. Kvaalseth concluded.