Saudi Mobily plans 8.5% cash dividend for 2021

The telco paid 5% in 2020

  
Riyadh, Saudi Arabia: Kingdom Centre tower and Etihad Etisalat / Mobily building along Hanifa Valley Street - Saudi mibile phone and internet company. Image for illustrative purposes.

Riyadh, Saudi Arabia: Kingdom Centre tower and Etihad Etisalat / Mobily building along Hanifa Valley Street - Saudi mibile phone and internet company. Image for illustrative purposes.

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Saudi telecom operator Etihad Etisalat Co., or Mobily, has recommended paying a cash dividend of 8.5 percent for 2021, at 0.85 riyals per share ($0.22) amounting to 654.5 million riyals, the company said in a bourse statement.

For 2020, the company paid 5 percent cash dividend.

Last month Mobily posted third quarter net profit of 281 million riyals compared to a net profit of 222 million riyals in Q3-2020, representing an increase of 27 percent.

(Writing by Brinda Darasha; editing by Daniel Luiz) 

brinda.darasha@refinitiv.com 

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© ZAWYA 2021

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