Vodafone Qatar investments in network expansion helps better serve consumers, businesses: Chairman

Vodafone Qatar held its ordinary and extraordinary general assembly meetings virtually yesterday, chaired by Vodafone Qatar’s chairman Abdulla bin Nasser al-Misnad.

The outcome of the Ordinary General Assembly Meeting was the approval of all resolutions on the agenda including the Board of Directors proposal to distribute a cash dividend of 6% of the nominal share value, i.e. QR 0.06 per share.The shareholders approved the financial statements of the company for the financial year that ended on December 31, 2021 and its corporate governance report for 2021. Addressing the shareholders, al-Misnad said, “Vodafone Qatar started the year with many investments to enhance and expand its various networks. These developments allowed us to better support all of our customers across Qatar, benefiting both consumers and businesses alike. With the notable progress we made in the services and products offered to both our consumer and corporate clients, we now find ourselves in the right position to explore new horizons for supporting the various social segments and corporate sector of the State of Qatar, by proactively accelerating and promoting the process of Digital Transformation.“In 2021, the company reported an annual net profit of QR327mn, a 76.9% increase compared to the previous year mainly driven by EBITDA growth, despite the impact of Covid-19. Total revenue for the year increased by 14.8% year-on-year to reach QR2.5bn due to continued growth in the Company’s postpaid, fixed broadband services, managed services and equipment and related services.”The outcome of the extraordinary general assembly Meeting, subject to obtaining all relevant regulatory approvals, was the approval of the proposed changes to the company’s articles of association in accordance with the Law No (8) of 2021 amending certain provisions of the Qatar Commercial Companies Law No (11) of 2015.