Telecom operator du has proposed its first dividend payment to shareholders after accepting a "fair and reasonable" increase in royalty payments to the UAE Federal Government.
Du, which posted a robust set of financials on Tuesday, said its net profit before royalty grew by 47.8 per cent to Dh1.8 billion in 2011, leading the company to propose a dividend of 15 fils per share.
However, du also had to take into account the Government's new royalty structure, which will see the company pay over 15 per cent of its 2011 net profit, along with a further five per cent of revenues.
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