STC Posts KD 31.4 Mln In Annual Profits

2025-02-05 03:06:11

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Feb 5 (KUNA) -- Kuwait Telecommunications Company (STC) said its annual net profits reached KD 31.4 million (some USD 101.7 million) by the end of 2024 with the per share profits of amounding to KD 0.31.
The board of directors of the company recommended distributing dividends of KD 0.35 per share, which represent 35 percent of the nominal value of a share, STC CEO Motaz Al-Dharrab said in a press release on Wednesday.
The revenues of the company in the fiscal year ending on December 31, 2024, went up by 2.8 percent to KD 336.5 million (nearly USD one billion) from KD 327.4 million in the previous year, he noted.
The value of STC assets topped KD 462.2 million (some USD 1.49 million) while the values of shareholder equities soared to KD 5.24 million (USD 16.9 million), Al-Dharrab added. (end)
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