Riyadh – Saudi Telecom Company (stc) has registered net profits after Zakat and tax worth SAR 3.03 billion during the first quarter (Q1) of 2022, an annual growth of 2.81% from SAR 2.95 billion.

The company generated SAR 16.99 billion in revenue in Q1-22, higher by 8.25% than SAR 15.69 billion, according to a bourse disclosure on Thursday.

Meanwhile, the earnings per share (EPS) increased to SAR 1.52 in Q1-22 from SAR 1.48 in Q1-21.

On a quarterly basis, the revenues in Q1-22 went up by 5.61% from SAR 16.08 billion in Q4-21, while the net profits surged by 16.10% from SAR 2.61 billion.

In a separate bourse filing, stc has announced a cash dividend distribution of SAR 1 per share for Q1-22.

The Saudi listed company will pay out a total of SAR 1.99 billion, representing 10% of the share par value, for 1.99 billion eligible shares.

The eligibility and distribution dates will be on 11 and 31 May, respectively.

In the third quarter (Q3) of 2021, the telecom firm reported net profits after Zakat and tax worth SAR 2.92 billion, a 5.70% year-on-year (YoY) rise from SAR 2.76 billion.

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