Profitable STC announces first-quarter dividend of $720m
Saudi Telecom Company (STC) will pay a dividend of SAR2.7 billion ($720 million), or 5.5 percent of capital, for the first quarter of 2026, the company said in a statement to the Saudi stock exchange.
The number of shares eligible for dividends stands at five billion.
In August 2024, STC announced a new three-year dividend policy, committing to a quarterly payout of SAR0.55 per share, starting in the fourth quarter of 2024 and running through the third quarter of 2027.
Net earnings rose just over 1 percent year on year to SAR3.7 billion in the first quarter. Profit growth stood at 12 percent after excluding non-recurring items.
Revenue rose 4 percent annually to SAR20 billion in the quarter.
Capital expenditure rose more than 2 percent year on year to SAR1.7 billion.
The Public Investment Fund owns 62 percent of STC.
Shares of the telco, which trade on the Tadawul, closed 0.4 percent higher at SAR42.82 on Tuesday, down 0.4 percent so far this year.
Further reading:
- STC maintains dividend payout despite profit drop
- Telefonica dividend cut casts doubt on STC’s investment
- STC and Humain to build 1GW of data centre capacity
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