Nov 11, 2015
STC commits to an attractive dividend payout and as a landmark initiative, has announced a three years dividend policy
The Board of Directors of Saudi Telecom Co., in their meeting held on Tuesday 10/11/2015, have approved the company’s dividend policy for three years starting from the 4th quarter 2015. The dividend policy as approved by the board of directors remains subject to the ratification by the next General Assembly Meeting which will be announced later. The dividend policy’s objective is to maintain a minimum level of dividend per share in Saudi Riyal terms on quarterly basis. Dividends distributions for the next three years will therefore be in line with this dividend policy. The dividend policy is as follows:
STC commits to pay a fixed quarterly dividend of a minimum of SR 1 per share. Further, the company will consider and pay additional dividend on quarterly basis subject to the Board's assessment and determination of the Company's financial situation, outlook and capital expenditure requirements. Additional dividends are likely to vary quarter on quarter depending on company performance.
The dividends policy will remain subject to:
- The material changes in the strategy and business of the company (including the business environment it operates in).
- Laws and regulations that are applicable on the company.
- Any banking, other funding or credit rating covenants that the company may be bound to from time to time.
- As first service provider in the Middle East and North Africa, STC announces the successful trial of innovative 5G technologies
- STC Net Income for the 1st quarter increased 5.4% to reach SR 2.5 billion compared to the same quarter last year, and distributes SR 1 per share dividends for the 1st quarter
- Saudi Telecom Company (STC) announces record throughputs in its 4G LTE Network through the successful deployment of Massive MIMO technology, in joint partnership with Huawei.
- Saudi Telecom Company (STC) collaborates with Oberthur Technologies (OT) and Huawei to pioneer solutions around eSIM technologies
- STC wins the Speed test Award for SAUDI ARABIA'S FASTEST MOBILE internet for the second time