The board of Saudi Telecom Co. (STC) on Monday approved a three-year dividend policy with effect from Q4-2021, continuing its policy of committing a fixed minimum dividend.
The telecom operator said in a bourse filing that it will pay a fixed minimum dividend of 1 riyal ($0.26) per share per quarter for the next three years.
The telco will also consider paying additional, one-off dividend, subject to the board approval, assessment of financial situation, outlook and capital expenditure requirements. This one-off dividend may differ on a quarterly basis, based on the company’s performance, it added.
The telecoms provider, the largest in Saudi Arabia, has committed to such a policy since 2016.
(Writing by Brinda Darasha; editing by Seban Scaria)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021