The Company’s ability to pay dividends is dependent on a number of factors, including the availability of distributable reserves and the Company’s capital expenditure plans and other cash requirements in future periods, and there is no assurance that the Company will pay dividends or, if a dividend is paid, what the amount of such dividend will be.
For fiscal year 2021, the Company paid a dividend of USD 105 million (15.8 fils per share) relating to its financial performance in the year ended 31 December 2021. 50% of this dividend was paid to Mamoura Diversified Global Holding PJSC in 2021 before the date of Listing, reflecting the period in which it was the Company's 100% shareholder. The remaining 50% was paid on 9 May 2022 to all shareholders of record as at 21 April 2022.
At the Annual General Meeting on 11 April 2022, shareholders approved the updated dividend policy expressly allowing payment of semi-annual dividends from 2022 onwards. As a result, Yahsat intends to pay dividends for each fiscal year in two equal installments - an interim dividend payment in October of that year and a final dividend in April or May of the following year.
The dividend is expected to increase in each subsequent fiscal year, subject to consideration by the Board of the cash management requirements of its business for operating expenses, interest expense, and anticipated capital expenditures. In addition, the Board would also consider market conditions, the then current operating environment and its outlook for the business. Any level or payment of dividends depends on future profits and the business plan of the Company, amongst other factors, at the discretion of the Board.
For any enquiries regarding unclaimed/unpaid cash dividends, please contact the Clearing, Depository, Settlement and Registry Services Department (CSD) of the Abu Dhabi Securities Exchange at the following contact details:
ADX Toll Free: 800 239 (800 ADX)
© 2023. Al Yah Satellite Communications Company PJSC (Yahsat)