Ooredoo Holds Annual General Meeting

04 March 2018 . Global

Meeting Approves Distribution of 35 Percent Cash Dividend (QR 3.5)



The Annual General Meeting of Ooredoo took place today, as shareholders discussed and approved the company’s Corporate Governance Report and financial statements for 2017.

During the meeting, shareholders approved the recommendation of the Board of Directors to distribute a cash dividend of 35 percent of the nominal share value (QR 3.5 per share).

In his address, H.E. Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, Chairman, Ooredoo, said: “Ooredoo delivered positive results across our markets in 2017, and we have built strong networks and an appealing range of digital products and services that will serve as the foundation for our next stage of growth and digital transformation.”

“Our efforts are sustained by a vibrant and successful brand. The Ooredoo brand has rolled-out across all our major markets, and our message about “Enriching Digital Lives” resonates with young people from Tunis through to Jakarta, and of course with the youth of Qatar, Kuwait and Oman,” he added.

Highlights from 2017 include Group revenue increasing to QAR 32.7 billion, driven by strong contributions from Indonesia, Iraq, Kuwait, Maldives and Oman. Excluding Foreign Exchange translation impact, revenues increased by 2%, compared to the reported 1% revenue increase. The company’s customer base increased 18% to 164 million.

Group EBITDA increased 3% to QAR 13.8 billion with a corresponding increase in EBITDA margin to 42%. Group Net Profit to Ooredoo shareholders was QAR 2.0 billion.

Importantly, data revenue stood at QAR 15.3 billion in 2017, up 16% from QAR 13.1 billion in 2016, and Group revenue from business services was QAR 5.5 billion.

H.E. Sheikh Abdulla Bin Mohammed Bin Saud Al-Thani, Chairman, Ooredoo, said: “Our growth in data and business services underlines the important strategic shift that Ooredoo is making. Years ago, we recognised that data and digital services were the future – we are now reaching the point where these services will surpass the revenue that the Group generates from voice and SMS. To sustain this growth, we will continue to build our global network and take a lead in 5G services.”

During the AGM, the following items were approved:

Agenda for the Ordinary Meeting:

1- Hearing and approving the Board’s report for the year ended 31st December 2017 and discussing the company’s future business plans.

2- Discussing the Corporate Governance Report for the year 2017.

3- Hearing the External Auditor’s report for the year ended 31st December 2017.

4- Discussing and approving the company’s financial statements for the year ended 31st

December 2017.

5- Discussing and approving the Board of Directors’ recommendations regarding the distribution of dividends for the year 2017.

6- Discharging the members of the Board from liabilities and determining their remuneration for the year ended 31st December 2017.

7- Appointing the external auditor for the year 2018 and determining its fee.

8- Election of Board Members.


The following members were appointed members of Ooredoo Board of Directors:

  1. E. Sh. Abdulla Bin Mohammed Bin Saud Al Thani (Chairman)
  2. E. Ali Shareef Al Emadi (Member)
  3. E Mohammed Bin Eissa Al Mohannadi (Member)
  4. Nasser Mohammed Marafih (Member)
  5. Aziz Aluthman Fakhroo (Member)


Also, the following candidates were elected members of the Ooredoo Board of Directors:

  • Nasser Rashid Al Humaidi (Member)
  • Ibrahim Abdullah Al Mahmoud (Member)

3- General Retirement & Social Insurance Authority- represented by H.E. Turki Mohammed Al Khater (Member)

4- Ali Bin Ghanim Al-Thani Group- represented by Sh. Ali Bin Ghanim Al Thani (Member)

5- Qatar National Bank (QNB)- represented by Mr. Ali Ahmed Al Kuwari (Member)