All resolutions approved at AGM including amendment to dividend policy allowing for distribution of semi-annual dividends from H1 2022 onwards.
Final cash dividend of AED 192.7 million [USD 52.5 million] for fiscal year 2021 approved and payable no later than 11 May 2022.
Confirms commitment to grow the dividend by at least 2% per year, reinforcing position as one of highest dividend yielding stocks on Abu Dhabi Securities Exchange ( ADX ).
Confidence in growth across the business with clear strategy in place and momentum since the second half of 2021 which is expected to continue in 2022.
Highest ever reported Net Income (profit attributable to the shareholders) of AED 256.2 million
Abu Dhabi, United Arab Emirates, 12 April 2022: Al Yah Satellite Communications Company PJSC ( Yahsat or the Group ), the UAE's flagship satellite solutions provider, listed on the Abu Dhabi Securities Exchange ( ADX ) under (SYMBOL: YAHSAT) (ISIN: AEA007501017), has announced the results of its Annual General Meeting ( AGM ), held on 11 April 2022.
All resolutions proposed to the AGM were approved, including an amendment to Yahsat's current dividend policy to expressly permit semi-annual dividend payments allowing Yahsat to pay an interim dividend to shareholders in October 2022 and to maintain semi-annual dividend payments going forward. A final dividend of AED 192.7 million [USD 52.5 million] for fiscal year 2021 is payable no later than 11 May 2022 to all shareholders of record as at 21 April 2022.
Musabbeh Al Kaabi, Chairman of Yahsat, commented: In 2021, Yahsat successfully listed on ADX and has continued to demonstrate sustained strength and resilience amidst ongoing economic disruption, laying strong foundations for growth by providing critical connectivity services to government and commercial customers in the UAE and beyond. I am pleased to say that the positive momentum we saw in the second half of 2021 is expected to continue into 2022, and I am confident that we will continue to deliver growth across the business by capturing new opportunities on both the government and commercial fronts.
We are also pleased to be able to deliver on our dividend commitment made at the time of the IPO. At the AGM, our shareholders approved a final dividend for fiscal year 2021 of AED 192.7 million, or 7.90 fils per share, bringing the total dividend for the year to AED 385.5 million, or 15.80 fils per share, reinforcing our position as one of the highest dividend yielding stocks on ADX and our commitment to shareholder value creation. We also reconfirm our plans to grow the dividend by at least 2% per annum, which, going forward will be paid semi-annually starting in October 2022.
Ali Al Hashemi, Group Chief Executive Officer of Yahsat, commented: 2021 was a pivotal year for Yahsat in which we achieved a number of significant milestones, among which was becoming an ADX-listed company. These included being appointed to assess two new UAE government satellites for launch in 2026, signing a more than AED 2.57 billion [USD 700 million] 15-year agreement with the UAE government for managed capacity services on the Thuraya 4 Next Generation Satellite, accelerating market diversification in defense and oil and gas and seeing 20% growth in our data solutions consumer subscriber base. This strong operational performance underpinned our robust fiscal year 2021 financial results and exceptional 4Q21 performance.
Looking ahead to 2022, the satellite industry is set for significant growth both nationally and internationally and Yahsat is well positioned to capitalise on this. We expect to build on our position as the UAE's flagship satellite operator, and we have an extensive pipeline of new business opportunities, with approximately 70% of 2022 projected revenues already contracted at the end of 2021. The underlying strength of our business today and the confidence in our revenues and profitability for years to come provide a solid foundation to create significant shareholder value through a combination of attractive dividends and further growth from our existing businesses and new initiatives. I would like to thank our employees and partners for their commitment in 2021 and I look forward to achieving further success together in the months and years ahead.
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
15/07/2026
The 2026 FIFA World Cup is a big deal for DAZN, which has distribution rights in three markets: Italy, Spain, and Japan. Each requires a different editorial app...
15/07/2026
As sports-media organizations manage rapidly growing content libraries and incre...
15/07/2026
HBS director of digital Johannes Franken talks SVG Europe through the operation built to serve FIFA World Cup 2026 rights holders remotely from Stratford, east ...
15/07/2026
IBC has unveiled the conference program for IBC2026, with this year's event ...
15/07/2026
Software-defined wideband RF platform supports 96-kHz monitoring, streamlined fr...
15/07/2026
New AI-powered module enables broadcasters and content owners to extract dialogu...
15/07/2026
Weeklong gathering at EBU headquarters will test new IPMX capabilities and expand certified product ecosystem...
15/07/2026
Force Tech has announced the appointment of Bryan Adams, CTS, as Vice President of Integration. Adams will oversee AV and broadcast integration project delivery...
15/07/2026
USA Sports has announced an exclusive English-language agreement with the Bundes...
15/07/2026
ITV Sport's FIFA World Cup 2026 coverage has been produced from one of the m...
15/07/2026
Program will provide professional camera kits, training, and technical support to participating local newsrooms...
15/07/2026
San Francisco church becomes first U.S. deployment of the 2 M/E production switcher...
15/07/2026
Former ESPN and NFL Network executive to advise startup league on media, distribution, technology, and fan engagement...
15/07/2026
The Houston-based RSN is the live-game home of the Astros and Rockets...
15/07/2026
Launched alongside new FreqSoft installer
Designed to bridge the gap between hardware and software, Freqport's FreqInOut FO1 unit provides a simple way ...
15/07/2026
Save up to 55% on software until 23 July 2026
Expressive E have just launched their Summer Offer sale, with discounts of up to 55% now applied across their ...
15/07/2026
Real-time stem-separation tool updated
zplane have recently released a new and improved version of their real-time stem-separation plug-in which they say ma...
15/07/2026
A new benchmark in bass enhancement
Described as a new benchmark in bass enhancement , Baby Audio's latest release has been designed to augment the lo...
15/07/2026
DMC Production's AR 1 and AR 2 units reverse the conventional OB workflow, keeping all production-critical processing at the venue while operators work remo...
15/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
15/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
15/07/2026
GigaCloud, a leading Ukrainian cloud service provider, and Cubbit, the first geo-distributed cloud storage enabler, today announced a new Business Alliance Part...
15/07/2026
SMPTE, the global society for media professionals, technologists, and engineers, has announced the launch of the SMPTE 110th Anniversary Campaign, a fundraising...
15/07/2026
Studio Technologies, a leading manufacturer of high-quality audio, video, and fiber-optic solutions, unveils the new StudioComm Model 762 Stereo Level Control, ...
15/07/2026
COW Jobs: Producer, Virtual Events - Hybrid, Full Time, Salaried
Brie Clayton July 15, 2026
0 Comments
Producer, Virtual Events (Hybrid | Full-time | ...
15/07/2026
Brazilian media organization builds nationwide CDN with Broadpeak's high-performance software for low-latency streaming and new content distribution service...
15/07/2026
DHD announces a new utility designed to increase the efficiency of its audio mixing systems during initial installation and subsequent configuration.
Anyone w...
15/07/2026
BCNEXXT Brings Next-Generation Vipe to IBC2026, Breaking the 1:1 Channel-to-Server Ratio New innovations liberate broadcasters from legacy playout infrastructur...
15/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
15/07/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
15/07/2026
Wednesday 15 July 2026
Screeners and press pack now available: Gomorrah: The Or...
15/07/2026
Trinity's Treasures features Ruth Negga, Eleanor McEvoy, and David Norris, a...
15/07/2026
Join geographer Dr Susan Hegarty, Engineer Tim Joyce and Architect Orla Murphy a...
15/07/2026
Home to leading manufacturers, robotics pioneers, infrastructure builders and gaming, of course, Japan is one of the world's centers of AI - building across...
14/07/2026
South end zone videoboard, cloud-based control system will be ready for 2026 football season...
14/07/2026
Redesigned website, enhanced mobile app unify content, ticketing, and personalized fan engagement...
14/07/2026
Agreement spans sponsorship sales, digital monetization, radio production, and new practice facility naming rights...
14/07/2026
Independent league adds 14 regional sports network affiliates, growing distribut...
14/07/2026
New strategy aims to unify competitions, content, fan engagement, and commercial...
14/07/2026
ESPN and Disney+ become exclusive home of PFL events in key international MMA market...
14/07/2026
Gill will oversee engineering, technology, and sports operations across the company's 64 local television stations...
14/07/2026
Submitted by North American Broadcasters Association (NABA)
As broadcasters con...
14/07/2026
Modernized mobile unit combines HOME Apps, mc 56 console, and IP infrastructure ...
14/07/2026
Every match of the 32-team tournament will air across ION and Scripps Sports platforms in English and Spanish...
14/07/2026
FloHockey to stream every game of the annual international tournament under four...
All resolutions approved at AGM including amendment to dividend policy allowing for distribution of semi-annual dividends from H1 2022 onwards.
