Air Arabia Announces Dividend Amidst Strong Performance
Air Arabia's AGM reveals robust financial results and a generous dividend proposal for 2024, signaling a positive outlook for shareholders.
Summary
Air Arabia's Annual General Assembly Meeting highlights strong financial performance for 2024, with a proposed 25% cash dividend and optimistic future prospects.
Air Arabia PJSC, the first and largest low-cost carrier in the Middle East and North Africa, has announced its Annual General Assembly Meeting (AGM) to be held on March 17, 2025. The meeting will take place both virtually and physically at the company's headquarters in Sharjah, United Arab Emirates. This AGM is set to be a significant event for shareholders as it will cover key financial reports and proposals for the fiscal year 2024.
The agenda includes the approval of the Board of Directors' report on the company's activities and financial position, the auditor's report, and the company's balance sheet and profit and loss account for the fiscal year ending December 31, 2024. One of the most notable proposals is the distribution of a 25% cash dividend, equivalent to 25 fils per share, totaling AED 1,166,675,000. This generous dividend proposal reflects Air Arabia's robust financial health and commitment to rewarding its shareholders.
Furthermore, the AGM will address the approval of the Board of Directors' remuneration and the discharge of both the Board and auditors from liabilities for the fiscal year 2024. The appointment of external auditors for the fiscal year 2025 and the determination of their fees will also be discussed.
Air Arabia's positive financial results for 2024 underscore its resilience and strategic prowess in navigating the competitive aviation landscape. The proposed dividend is a testament to the company's strong cash flow and profitability. As a leading player in the low-cost carrier sector, Air Arabia continues to expand its network and enhance its service offerings, positioning itself for sustained growth.
Given the company's solid financial performance and strategic initiatives, the outlook for Air Arabia remains optimistic. For investors, the proposed dividend and the company's growth trajectory suggest a favorable investment opportunity. Therefore, the recommendation is to buy Air Arabia shares, as the company is well-positioned to deliver value to its shareholders in the coming years.
Source
Summary
The Board of Directors of Air Arabia Company (PJSC) invites shareholders to attend the Annual General Assembly Meeting, which will be held both virtually and physically at the company's head office beside Sharjah International Airport, on Monday, March 17, 2025, at 3:00 pm. The agenda includes: reviewing and approving the Board of Directors' and Auditor's reports for the fiscal year ending December 31, 2024; discussing and approving the company's balance sheet and profit & loss account for the same period; considering a proposal for a 25% cash dividend distribution; approving the Board of Directors' remuneration; discharging the Board and auditors from liabilities for the fiscal year ending December 31, 2024; and appointing auditors for the fiscal year 2025 and determining their fees.
Summary
توضيح بشأن اعتماد التوكيلات: وفقًا لمتطلبات المادة 40 من دليل الحوكمة، نود إبلاغ المساهمين بما يلي: 1. يجوز لمن له حق حضور الجمعية العمومية أن ينيب عنه من يختاره من أعضاء مجلس الإدارة أو العاملين بالشركة أو شركة الوصاية أو العاملين بها، بمقتضى توكيل خاص. يجب ألا يكون الوكيل حائزًا على أكثر من 5% من رأس مال الشركة المصدرة، ويمثل ناقصي الأهلية والأقدمية قانونيًا. 2. يجب أن يكون توقيع المساهم على الوكالة معتمدًا من إحدى الجهات التالية: (أ) الكاتب العدل (ب) غرفة تجارة أو دائرة اقتصادية بالدولة (ج) بنك أو شركة مرخصة بالدولة بشرط أن يكون للموكل حساب لديهم (د) أي جهة أخرى مرخصة لأعمال التوثيق 3. يجب تضمين نموذج التوكيل أرقام التواصل مع المساهم وأرقام التواصل الخاصة بممثل شركة الوصاية الذي اعتمد التوكيل. هذا النموذج هو استرشادي، ويحق للموكل إعداد التوكيل وفقًا للحدود والصلاحيات المناسبة، مع ضرورة التزام بأن يكون توقيع المساهم على الوكالة معتمدًا من إحدى الجهات المذكورة. للمزيد من المعلومات أو الاستفسارات، يرجى الاتصال على الرقم 043055555 أو البريد الإلكتروني customerservice@dfm.ae.
Summary
The text is a limited proxy authorization for Air Arabia P.J.S.C shareholders. It allows the shareholder to authorize another person to attend and vote on their behalf at the company's general assembly meeting. The meeting is scheduled to take place at the Air Arabia Head Office in Sharjah, UAE, and online at 3:00 PM on Monday, March 17, 2025. The authorized proxy has the right to vote on all agenda items, even if the meeting is postponed. The document requires the signature of the shareholder. The text is presented in both English and Arabic.
