Saudi Telecom Company (stc) generated net profits standing at SAR 13.29 billion in 2023, up 9.23% year-on-year (YoY) from SAR 12.17 billion.

The telecom firm posted 7.27% higher revenues at SAR 72.33 billion last year, compared to SAR 67.43 billion as of 31 December 2022, according to the interim financial results.

Earnings per share (EPS) amounted to SAR 2.67 in 2023, an annual rise from SAR 2.44.

Special Dividends

The board member of stc recommended special cash dividends amounting to SAR 4.98 billion, representing 10% of the capital, for 2023.

A dividend of SAR 1 per share will be granted to 4.98 billion of the company’s shareholders.

Meanwhile, the eligibility and distribution dates for the dividends will be announced at a later time.

Dividends for Q4-23

The firm will distribute interim dividends valued at SAR 1.99 billion for the fourth quarter (Q4) of 2023.

Eligible shareholders will receive a dividend of SAR 0.40 per share, equivalent to 4% of the share nominal value.

The eligibility and payment dates for the Q4 dividends will be 25 February and 14 March 2024, respectively.

In the first nine months (9M) of 2023, stc recorded a 17.08% year-on-year (YoY) surge in net profit to SAR 11.02 billion, versus SAR 9.41 billion.

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