Saudi Telecom commits to minimum dividend policy for 3 years

Telco will also consider paying additional, one-off dividend

  
Saudi Telecom Company Logo

Saudi Telecom Company Logo

STC

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)

brinda.darasha@refinitiv.com

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© ZAWYA 2021

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