GO p.l.c. gives €0.16c dividend for financial year 2021

GO CEO Nikhil Patil

Last Updated on Thursday, 31 March, 2022 at 9:03 am by Andre Camilleri

With an annualised net dividend yield averaging 7% over the past 5 years, GO remains one of the best performing publicly listed companies in Malta. It has consistently delivered shareholder returns above the market average.  

During 2021, the Group generated revenue of €193.7 million (2020: €185.2 million), an increase of €8.5 million (4.6% increase) over the comparative year.  Revenue from GO’s local telecommunications segment increased by 0.7% compared to 2020. This growth was mainly impacted by the significant drop in international roaming traffic due to the travel restrictions. GO’s investments however continued to deliver additional value, in fact during 2021 GO invested €50.5 million, €7.2 million lower than the previous year. 

Based on this performance, the Board of Directors has resolved to recommend a final dividend of €0.09 per share in addition to the interim dividend of €0.07 per share paid on 31August 2021.  Bringing the total dividends distribution for financial year 2021 to €0.16 per share. The payment of this Net Dividend amounts to the total sum of €9.12 million.

Commenting on these results, GO CEO Nikhil Patil commented “2021 was undoubtedly a remarkable year. The second year of a global pandemic that significantly impacted our economic and social fabric, a year where market pressures continued mounting with inflation increasing cost of raw materials, energy and transportation. This notwithstanding, demand for robust and resilient communications services continued.”

“2021 was another year where GO demonstrated resiliency in the face of challenges. Staying focused on living our purpose, which is to drive a digital Malta where no one is left behind, and staying true to our values, has enabled us to deliver a strong financial performance and returns for our esteemed shareholders,” he continued.

“Going forward, we shall remain focused on supporting our people internally, nurturing a culture that is fully supportive of us becoming a purpose led organisation; we shall continue investing in innovative products and services through the best technology available in order enable and enrich our customers lives and businesses, and shall increase our efforts to reduce our environmental impact,’ concluded Nikhil Patil.

The final dividend for the year ending 31 December 2021 will be paid on Friday, 27 May 2022 to all shareholders who are on the shareholders’ register as at Monday, 25 April 2022.

The Annual General Meeting will be held remotely on Wednesday, 25 May 2022.

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