Jordan Telecom Company Distributes JD 15 Million in Cash Dividends on Shareholders

 

The General Assembly of Jordan Telecom Company-Orange Jordan approved, during its 25th annual Ordinary General Assembly meeting which was held on Thursday via audiovisual technology (AGMPro), the Board of Director’s recommendations to distribute cash dividends of JD 15 million (80 Fils/share).

The General Assembly also endorsed the Board of Director’s report on the company’s business for the year 2019, including the governance report, the disclosure statement, the financial results for the fiscal year of 2019, which ended on December 31, 2019, and the business plan for 2020.

The meeting was headed by the Chairman of the Board of Directors, Dr. Shabib Ammari, and attended by the board members, representatives from Companies Control Department, the accounts auditor and the Group’s Executive Management.

Dr. Ammari said that Orange Jordan achieved milestones because of its effective and flexible approach in dealing with the constant changes in the demand on its services and products, and its adaptability to the technological developments in the ICT sector and the global changes alike, noting that for the first time since 2000, it distributed less than 100% of profits to maintain the financial liquidity in the aftermaths of the Covid-19 pandemic.

The chairman presented the company’s performance and achievements during last year, shedding light on the newly launched services and the continuous efforts to expand its networks across the Kingdom and enhance its performance, especially after the company acquired additional frequencies to expand its (4G, 4G+) networks and preserved its place as the sole provider of 4G+ services in the local market. The company has maintained its leadership in the broadband internet market, and the Fiber by Orange Jordan for homes and businesses achieved huge success by covering more than 500,000 households.

He added that speeding up the digital transformation process was one of the company’s main achievements in 2019, noting that it was attained by building up a talented and a qualified team, circulating the concept of agility and its practices across all units, and fully renovating its technologies and performance architecture.

Dr. Ammari said that speeding up the digital transformation aims to enable the company to continue doubling its productivity by increasing the efficiency, minimizing costs and digitizing its different operations. For example, the Solar Farms project supplies the company with 75% of its energy needs while elevating customer service and the business environment.

He stressed on the company’s vital role in supporting the socio-economic development in local communities through empowerment and digital inclusion by supporting youth, entrepreneurship, and education, adding that its efforts are evident in Orange Coding Academy, BIG by Orange, and the 14 digital centers distributed across the Kingdom.

According to Orange Jordan’s financial statement, the total revenue till the end of 2019 reached JD 318.7 million, while the value of its total assets reached JD 688.4 million until the end of 31/12/2019 with 10.3% increase from last year, while the net value of the shareholders’ properties reached JD 271.5 million for 2019.

The company’s future vision is based on its five-year corporate strategy, Engage 2025, focusing on four pillars: reinvent Orange’s operator model, accelerate in growth areas, place data and Artificial Intelligence (AI) at the heart of its innovation model and build the company of tomorrow.

The company also confirmed its continued commitment towards environment and society, enhancing employees and customers’ experiences, empowering the Kingdom and its digital inclusion, in addition to maintaining its leadership position as a responsible digital leader.