Bahrain Telecommunications Company BSC (Beyon) held its Annual General Meeting (AGM) for the twelve-months ended 31 December 2023 today. The meeting took place at the Beyon campus in Hamala, Bahrain, in the presence of Beyon’s Chairman, Board members, executive management and Beyon’s external auditor, KPMG Fakhro. Representatives from Central Bank of Bahrain, Ministry of Industry & Commerce, Bahrain Bourse and shareholders were also present.
During the AGM shareholders approved the recommendation of the Board of Directors for a full year cash dividend of BD64.7M (US$171.6M), which includes a regular dividend of 32.5 fils per share plus an additional special dividend of 6.5 fils per share. The 2023 interim dividend of 13.5 fils per share was already paid during the third quarter of 2023 with the remaining dividend announced during the meeting to be paid on 22 April 2024.
On the occasion, Beyon also held and EGM (Extraordinary General Meeting) during which shareholders approved changes to the company’s Memorandum and Articles of Association.
Beyon Chairman Shaikh Abdulla bin Khalifa Al Khalifa said, “The company’s strong performance in 2023 ensured excellent dividends for shareholders of 32.5 fils per share plus an additional special dividend of 6.5 fils. This emphasises the priority we place on meeting shareholders’ expectations, and we will continuously strive to deliver the best value for our shareholders during 2024.”
“During 2023 we focussed on the continuous transformation of the company with numerous milestones achieved including introducing our digital brands in new overseas markets and the acquisition of regional digital companies which supports the expansion and diversification of our portfolio. Also, in line with our transformation journey, Beyon’s major investments in new infrastructure including subsea cables and data centres will ensure the availability of world class connectivity services and help contribute to the ongoing growth of and success of Beyon.”
Shaikh Abdulla offered his appreciation to shareholders, the Board of Directors, executive management, and team members for their contribution toward Beyon’s success in 2023.
Beyon CEO, Mikkel Vinter, presented an overview of the 2023 achievements, highlighting the solid performance and numerous operational achievements.
“We made good progress with our ambition to become a global technology company, and expand Beyon’s position as a leading provider of digital services and connectivity.”
“Across our operations we are pleased with the 2023 results for our connectivity and digital businesses, which saw Batelco expand market leadership for mobile and broadband in Bahrain, and strong growth achieved across our international operations.”
“All Beyon’s team members contributed toward the successes of 2023, their efforts are greatly appreciated, and I look forward to implementing exciting strategic initiatives for the year ahead,” Mr. Vinter concluded.
