generality "Ticoom" Approval of the distribution of cash dividends of 400 million dirhams for the second half of 2024
Dubai, March 11 / WAM / The shareholders of the Tikom Group agreed, during its annual general assembly meeting, on the recommendation of the Board of Directors to distribute cash dividends of 400 million dirhams “8 money per share” for the second half of the year 2024, bringing the total cash dividends for the fiscal year 2024 to 800 million dirhams “16 fils per share”, in accordance with the policy of distributing profits approved until the end of the first half of the year 2025.
According to a press release issued today, the shareholders also agreed to the re -election of the members of the group’s board of directors, and to approve the financial statements for the year ending December 31, 2024.
Malik Al -Malik, Chairman of the Tecom Group, said that the strong performance of the Tikom Group during the year 2024 contributed to enabling it to implement its strategic investments, including allocating 2.7 billion dirhams of investments to continue achieving sustainable growth, and this comes in line with its keenness to expand the scope of the group and enhance its active contribution to Dubai’s economic march, while ensuring the achievement of the best revenues for the group’s shareholders.
It is noteworthy that the revenues of the Tikom Group grew by 11% on an annual basis to reach 2.4 billion dirhams, in light of the registration of occupancy rates and the retaining of customers by 94% and 92%, respectively.
The net profits in the year 2024 also recorded 14% on an annual basis to 1.2 billion dirhams, with cash flows from operational operations of 1.6 billion dirhams, driven by the efficiency of collection and high performance of managed assets.
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