Saudi Telecom Company “STC” (7010) saw its net profits rise approximately 10% YoY in Q2 2024, reaching SAR 3.3 billion.
Ongoing Excellence
The telecom giant’s profits were driven by a 4.5% YoY hike in total quarterly revenues, amounting to approximately SAR 19 billion.
So what
STC’s net profit jumped to around SAR 6.6 billion in the first half of 2021, representing a 7.7% YoY increase.
This was due to a 4.8% YoY revenue increase during the same period, recording around SAR 38.3 billion.
Now what
STC’s Board of Directors decided to distribute about SAR 2 billion in cash dividends at SAR 0.4 per share.
This aligns with the company’s dividend distribution policy for a three-year period, which began in Q4 2021.
The Q2 dividends for 2024 will be paid out on August 15.
