Emtel Pays Rs 570 Million Dividend to Shareholders in December 2024
Telecommunications
Emtel, a leader in the telecommunications industry in Mauritius and the only listed telecommunications company on the Stock Exchange of Mauritius, has announced a remarkable dividend payment of Rs 570 million to its shareholders for December 2024. This payment reflects a dividend of Rs 1.25 per share and is the result of the company’s strong financial performance during the third quarter of 2024.
Emtel’s revenue for the nine-month period ending September 30, 2024, amounted to Rs 2.72 billion, marking an impressive year-on-year growth of 9.1%. The company also experienced increases in both EBITDA (up by 15.8%) and service revenue (up by 12.3%). Additionally, the normalized profit before tax rose by 20%, reaching Rs 421 million. These results demonstrate the effectiveness of Emtel’s business model, which focuses on customer-centric services and sustainable growth strategies.
The company’s continued investment in infrastructure and customer service, including the expansion of its 5G network, has played a pivotal role in its success. Emtel’s network was recognized by Ookla as the fastest mobile network in East Africa for 2024 and the fastest in Mauritius for the second consecutive year.
Emtel’s Chief Executive Officer, Kresh Goomany, commented on the dividend payout, saying, “The various strategic initiatives we’ve implemented in terms of our offerings and operational efficiency have allowed us to enhance our performance while optimizing costs. The growth of our customer base, the enrichment of our product offerings, the expansion of our network, and the increased capacity of our submarine cable have all contributed to the strength of our financial results. Today, we are proud to have fulfilled our promise to distribute Rs 570 million to our shareholders post-IPO, bringing the total dividend payout for 2024 to Rs 700 million. We aim to continue our growth trajectory while creating value for all our stakeholders.”
Looking ahead, Emtel plans to continue strengthening its B2C (Business-to-Consumer) and B2B (Business-to-Business) segments, as well as its ongoing investments in infrastructure development and innovative products. The company remains committed to meeting the needs of both the population and businesses in Mauritius, with a continued focus on enhancing its customer service and delivering value to its shareholders.
With its resilient business model, strong growth in customer numbers, and successful expansion into new technologies, Emtel is poised to remain a dominant player in the Mauritian telecommunications industry.
Mauritius Times ePaper Friday 29 November 2024
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