Jordan Telecom Company Distributes JD 18.750 Million in Cash Dividends on Shareholders

Jordan Telecom Company Distributes JD 18.750 Million in Cash Dividends on Shareholders

2 May 2021
​The General Assembly of Jordan Telecom Company Orange Jordan approved the Board of Director's recommendations to distribute cash dividends of JD 18.750 million (100 Fils/share) during its 26th annual Ordinary General Assembly meeting, which was held on Thursday, April 29th, 2021, via audiovisual technology (AGMPro) in line with COVID measure. The meeting was headed by the Chairman of the Board of Directors, Dr. Shabib Ammari, and attended by the board members, the Group's Executive Management and Shareholders who formed 94.36% of the company's capital.The General Assembly also endorsed the Board of Directors' report on the company's business for the year that ended on 31/12/2020, after hearing the auditors' report for the closing accounts and discussing the company's general budget.According to the company's general budget data, until the end of December 31st, 2020, the company assets totaled JD 692.93 million, and property rights reached JD 273.98 million.The net profit of Orange Jordan at the end of last year totaled JD 17.5 million and decreased by almost 9% from the previous year, which amounted to JD 19.04 million.The Group's customer base witnessed a 4.4% increase in all services it offers, reached 3.2 million subscribers by the end of 2020, in comparison to 3.1 million subscribers by the end of 2019, as a result of an increased number of Fiber, mobile services, and Orange Money E-wallet subscribers. Dr. Ammari congratulated Jordan's leadership and citizens on the Jordanian state's centennial, stating this occasion is dear to Jordanians as the Kingdom managed to achieve progress in many fields, enjoying safety and stability despite all challenges. The year 2020 was a milestone for the company's history, Dr. Ammari said, as it marks the 20th year since its privatization, committing towards the country, company owners, subscribers, and employees succeeding in leading the local ICT sector, confirming that Orange Jordan dealt with flexibility and efficiency with the continuous changes in its services and products' demand. It kept pace with technological developments in the ICT sector by optimizing the potential and exploiting the opportunities offered by the market. The chairman presented the company's performance and achievements over the past 20 years, noting that Orange Jordan was able during these years from achieving leaps in the local ICT sector, where the internet became a culture and a lifestyle, as it was the chief supporter to instill this concept across the Kingdom. Dr. Ammari affirmed; the company led the sector with the support of its strategic partner, Orange Global Group, to create a success story for the privatization program in the Kingdom and become the reference operator, playing a pivotal role in bridging the digital gap between Jordan and the advanced countries to become one of the leading countries in the quality of the services, diverse technological usage, keeping up with the advancements and offering the best. Also, the CEO of Orange Jordan, Thierry Marigny, congratulated the Hashemite Kingdom of Jordan on the state's centenary, noting its ability during these years to gain global confidence due to its stable and safe image that all countries of the world attest.Marigny added that the year 2020 was exceptional globally, not just locally, as the changes imposed by the pandemic needed official procedures from different countries including, Jordan. With the extended full lockdown for several months when the crisis started, the importance of the Telecom Networks and Digital Transformation were present to ensure life's continuity remarkably, especially in work, education, and business, to adapt to the new reality. Marigny explained that the company, through its Crisis Management Strategy that started internally and took precautionary measures since the first day of the pandemic to preserve the health and safety of its employees while continuing to work and ensure the provision of its services during the full and partial lockdown. He said that this crisis has shown Orange Jordan's role as a pillar to the digitalization process of the Kingdom and an effective arm in supporting the government to contain the pandemic's repercussions, noting that the company arranged its priorities in light of the current situation, preserving the quality of its services and the capacity of its networks to absorb the expected increase in usage and succeeded in achieving growth in its operating revenues' volume (before interest, taxes, depreciation, and amortization by 3.5%).And Orange Jordan continued to support governmental bodies through many initiatives to ease the pandemic's repercussions, offering JD 1.260 million as monetary donations for Hemmat Watan Fund and in-kind contributions for the health sector.As for the financial sector, Marigny pointed that the company contributed to enhancing financial inclusion that was evident during the pandemic, easing e-payments with Orange Money E-wallet, which as available for all network operators, as the transactions' value for the last year reached JD 88 million. The company continued to support innovation and entrepreneurship by launching the Innovation Space, a joint project with the European Union, in addition to executing a project with GIZ, under the name "Orange Digital Center."    -End- 
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