Saudi Telecom Company announces quarterly dividends for next three years
Date
8/26/2024 6:02:49 AM
(MENAFN) Saudi Telecom Company (STC) has revealed that it will distribute quarterly financial dividends of 0.55 riyals (approximately 14.66 cents) per share for the next three years. This new dividend policy will commence from the fourth quarter of 2024 and continue through to the third quarter of 2027. The announcement was made on Sunday, and the company stated that this policy will be put forward for approval at the upcoming general assembly meeting.
In its statement to the Saudi Stock Exchange, STC emphasized that this dividend strategy reflects its commitment to delivering consistent returns to shareholders while ensuring financial stability. The policy outlines a clear schedule for dividend payouts, showcasing the company’s financial confidence and its approach to shareholder value.
Furthermore, STC mentioned that it may also consider additional dividend payments beyond the announced schedule. Such decisions will be contingent on a thorough evaluation of the company’s financial health, future growth prospects, strategic investments, and capital needs. This flexibility highlights STC’s dedication to maintaining a balanced approach between rewarding shareholders and supporting the company’s long-term objectives.
MENAFN26082024000045015682ID1108600414
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.