Monday 19 April 2021

Zain Bahrain approves 6pc cash dividends for 2020

MANAMA, 18 days ago

Zain Bahrain, a leading telecommunications provider in the kingdom, said it has won investor approval to distribute cash dividends at 6 per cent of paid-up capital, equivalent to 6 fils per share, 
The announcement was made at Zain's annual general assembly meeting held at Bahrain Bourse Business Center in Manama where attendees participated both physically and virtually via videoconferencing.
Zain Bahrain's board of directors’ recommendation to transfer BD540,496 ($1.42 million) to statutory reserve and BD2.68 billion as retained earnings for the following year. Cash dividends will be paid to shareholders starting from April 19.
The AGM also approved the appointment of four board members and the election of three others for the next three years (2021-2023). 
The members elected into the board are Shaikh Ahmed Bin Ali Al Khalifa, Ahmed Tahous Al Tahous, Shaikh Rashid Bin Abdulrahman Al Khalifa, Bader Nasser Al-Kharafi, Yousef Khaled Al Abdulrazzaq,  Zaki Hilal Al Busaidi and Ali Hasan Al Khaja.
Addressing the meeting, Shaikh Ahmed said: "Despite the challenges and economic uncertainties into which the world was plunged in 2020, we managed through our resilient policies and programs to increase our profits and per-share earnings by 3% in 2020. Going forward, we remain committed to delivering the best telecommunication and digitization products and services in the world and further developing Bahrain as a leading technology hub in the region."
According to him, Zain had increased its investments and taken various initiatives and proactive measures in 2020 to improve its offerings and reduce the impact of Covid-19 on its customers and society at large.
Zain Bahrain invested in its network and customer experience in 2020, launching and expanding its 5G commercial services and developing 4G infrastructure to accelerate business opportunities for various sectors. The company launched a WhatsApp business channel and upgraded its zBot and self-care channels to enhance the digital experience for its customers, he added.
Shaikh Ahmed said the company’s key achievements for the year also included the launch of phase two of the Zain Delights programme, the enrichment of B2B services, the provision of Remote Teleworker solutions, and the launch of Al Zain postpaid platform.
"Zain Bahrain also took various initiatives to support youth, keep customers safe and connected, ensure the development of employees and the empowerment of women, support the community to help address Covid-19 challenges, and advance the company’s CSR agenda, particularly in line with Bahrain’s 2030 vision and the United Nations Sustainable Development Goals," he added.-TradeArabia News Service


More IT & Telecommunications Stories

calendarCalendar of Events