Riyadh: The net profits after Zakat and tax of Mobile Telecommunication Company Saudi Arabia (Zain KSA) hit SAR 550 million in 2022, higher by 157.01% than SAR 214 million in 2021.
The Tadawul-listed firm posted an annual surge of 14.86% in revenue to SAR 9.07 billion as of 31 December 2022, compared to SAR 7.90 billion.
Earnings per share (EPS) went up to SAR 0.61 last year from SAR 0.24 in January-December 2021, according to the financial results.
The board members suggested cash dividends worth SAR 449.36 million, equivalent to 5% of the company’s capital, for 2022.
Under the board’s recommendation that was determined on 25 March, Zain KSA would disburse SAR 0.50 per share for 898.72 million eligible shares.
Meanwhile, the payment date will be announced after the general assembly approves the dividends proposal.
In the first nine months (9M) of 2022, the telecom firm achieved SAR 299 million in net profit after Zakat and tax, a 109.09% YoY hike from SAR 143 million.
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