-
Batelco Board of Directors has approved an interim cash dividend of 13.5 fils per share for shareholders for H1 2021
-
This is 13.5% of the paid-up capital, and in line with the 2020 interim dividend payment
Bahrain Telecommunication Company or Batelco, the country’s principal telecom service provider, said on Monday, August 2, that it had reported an increase of 5% in net profits to BD37.5 million ($99.5 million) in the first half of 2021.
The it said in a statement that it had witnessed a 3% increase in net profit, attributable to equity holders of the company, of BD17.8 million ($47.2 million) for the second quarter (Q2), compared to BD17.3 million ($45.9 million) for Q2 2020.
The increase in net profit was mainly attributable to steady increases in revenues for the first six months of the year, Batelco said in the statement.
It also said earnings per share stood at 10.7 fils for the second quarter of 2021, compared to 10.4 fils in Q2 2020 resulting in an EPS of 22.7 fils for the period compared to an EPS of 21.7 for H1 2020.
There are 1,000 fils in a Bahraini dinar, which is currently valued at around $2.65 across the world.
Revenues for Q2 increased 7% to BHD 98.4 million ($261.4 million), thanks to growth in fixed broadband, adjacent services, and wholesale revenues of 18%, 16%, and 5% respectively.
EBITDA amounted to BHD 41.7 million ($110.62 million) compared to BHD 40.3 million ($106.91 million) in Q2 2020, an increase of 3%.
Batelco also said in its statement that its Board of Directors has approved an interim cash dividend of 13.5 fils per share, or 13.5% of the paid-up capital, for shareholders for the six-month period of 2021.
This, it said, was in line with the 2020 interim dividend payment.
Meanwhile, Batelco CEO Mikkel Vinter was quoted by the statement as saying: “The development of Batelco’s Data Centers remains high on the agenda and in line with world class standards in Data security, our teams worked hard to achieve PCI DSS ‘Payment Card Industry Data Security Standard’ compliance, for Batelco’s three Data Centers, thus ensuring a reliable and highly secure data storage environment for our customers.”