Beyon AGM approves BD64.7 m cash dividend

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

Bahrain Telecommunications Company (Beyon) held its Annual General Meeting (AGM) for the twelvemonths ended 31 December 2023 today.

The meeting took place at the Beyon campus in Hamala, Bahrain, in the presence of Beyon’s Chairman, Board members, executive management and other officials.

During the AGM shareholders approved the recommendation of the Board of Directors for a full year cash dividend of BD64.7M (US$171.6M), which includes a regular dividend of 32.5 fils per share plus an additional special dividend of 6.5 fils per share.

The 2023 interim dividend of 13.5 fils per share was already paid during the third quarter of 2023 with the remaining dividend announced during the meeting to be paid on 22 April 2024.

Beyon also held and EGM (Extraordinary General Meeting) during which shareholders approved changes to the company’s Memorandum and Articles of Association.

Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa said, “The company’s strong performance in 2023 ensured excellent dividends for shareholders of 32.5 fils per share plus an additional special dividend of 6.5 fils.

This emphasises the priority we place on meeting shareholders’ expectations, and we will continuously strive to deliver the best value for our shareholders during 2024.”

Beyon CEO, Mikkel Vinter, presented an overview of the 2023 achievements, highlighting the solid performance and numerous operational achievements.

“Across our operations we are pleased with the 2023 results for our connectivity and digital businesses, which saw Batelco expand market leadership for mobile and broadband in Bahrain, and strong growth achieved across our international operations.”