Saudi Telecom Company (STC) Group has announced a new three-year dividend policy, committing to a quarterly payout of $0.15 (equivalent to Dh0.55) per share, starting from Q4 2024 and extending through to Q3 2027.

This policy is subject to shareholder approval, with the date of the general assembly to be announced soon.

Potential Special Dividends Based on Financial Performance

According to a statement from the Saudi exchange, the telecom operator may consider special dividends depending on its financial health, prospects, strategic investments, and capital expenditure needs.

Special Dividends for 2023 and Continued Growth

In February this year, STC proposed a special dividend for 2023 following a 9% year-on-year increase in profits.

The proposed special dividend could amount to nearly $1.3 billion (equivalent to Dh4.7 billion), or $0.27 (equivalent to Dh0.99) per share, contingent on shareholder approval.

Additionally, the company has declared a cash dividend of $533 million (equivalent to Dh1.9 billion), or $0.11 (equivalent to Dh0.4) per share for Q4 2023.

Total Potential Dividends for 2023

If the special dividend is approved, the total STC dividend distribution will reach $0.69 (equivalent to Dh2.53) per share, equating to 26% of the stated value per share.

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