29th annual general meeting

Jordan Telecom distributed JD 39.375 million in profits to its shareholders

18 May 2023

The General Assembly of Jordan Telecommunications Group- Orange Jordan has approved the Board of Directors' recommendation to distribute cash dividends amounting to JD 39.375 million (210 fils per share), to its shareholders, representing 21% of the company’s capital of JD 187.5 million.

This decision was made during the company’s 29th ordinary General Assembly meeting, held on Wednesday, April 26, 2023, via AGMPRO technology, chaired by the Chairman of the Board of Directors, Dr. Shabib Ammari, and attended by board members, executive committee members, the representative of the General Controller of Companies, Dr. Sami Al-Kharabsheh, and auditors from Deloitte and Touche, as well as legal advisor Thaer Al-Najdawi, and 86.69% of the company’s shareholders.

The General Assembly also approved all the items on the agenda, including the minutes of the previous year's meetings, the report of the Board of Directors, the report of the auditors, and the consolidated financial statements of the company for the year ending on December 31, 2022.

 

According to the financial data in the company's balance sheet until the end of December 2022, the company's assets reached JD 742.7 million, an increase of 6% from the end of the previous year, 2021. The company's equity also increased by 6.1% to JD 298.4 million in the same comparison period.

 

In terms of revenues, the company achieved JD 347.6 million in revenues, an increase of 4.2% from 2021, and the company's net profits (after tax) increased by 68.5% to reach JD 44 million at the end of last year.

 

Dr. Ammari stated during his speech at the General Assembly meeting that Orange Jordan witnessed significant milestones in 2022, including revenue growth, which is expected to continue in the coming years, and the signing of the settlement agreement with the Telecommunications Regulatory Commission.

 

For his part, the CEO of Orange Jordan, Philippe Mansour, affirmed that last year marked a turning point for Orange Jordan in terms of growth. He said that the company continued to offer new services to its subscribers, both individuals and businesses, relying on a new organizational model, advanced networks, and highly experienced employees, alongside innovative digital solutions, placing Orange Jordan in a leading position.

 

Mansour also noted that Orange was the first to launch 5G as a pioneering step in the sector, and it will soon begin building its 5G network.

 

“As a responsible digital leader, Orange Jordan is committed to its employees, customers, community, and the environment, by incorporating Environmental, Social, and Governance (ESG) practices, in addition to its digital programs in more than 50 locations in the Kingdom, which contribute to promoting innovation, empowering youth, and enhancing their job and entrepreneurial opportunities”, Mansour said.

 

 

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