Saudi's Al-Babtain Power announces 10% cash dividend

Shareholders to receive payout starting February 9

  
A Saudi money exchanger wears gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Image used for illustrative purpose.

A Saudi money exchanger wears gloves as he counts Saudi riyal currency at a currency exchange shop in Riyadh, Saudi Arabia March 10, 2020. Image used for illustrative purpose.

REUTERS/Ahmed Yosri

Al-Babtain Power and Telecommunication Company will be distributing cash dividends to its shareholders next month.

The distribution of the payout for the financial year ended December 31, 2020, which will be 10 percent or one Saudi riyal per share, will start on February 9, 2021

The money will be deposited directly into the shareholders’ accounts through the Arab National Bank, the company said in a bourse filing with the Saudi Stock Exchange (Tadawul) on Sunday.

Al-Babtain is one of the largest makers and suppliers of power and telecommunications products and solutions. It operates production facilities in Saudi Arabia, Egypt and France.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

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© ZAWYA 2021

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