stc declares dividend policy for 3 years at SAR0.55/share every quarter

The board of directors of Saudi telecom major stc approved, on Aug. 24, the three-year dividend policy, starting Q4 2024 and ending Q3 2027, the telecom operator said in a statement to Tadawul.

The new dividend policy is subject to the approval of the upcoming general assembly meeting, which will be announced later.

The objective of the dividend policy is to maintain a minimum level of dividend per share every quarter.

According to the new policy, the telco will pay a fixed dividend of SAR 0.55 a share per quarter for the next three years.

Further, the company will consider paying an additional dividend, subject to the board’s recommendation to the general assembly, after assessing its financial situation, outlook, and capital expenditure needs.

The dividend policy is subject to change based on any material changes in the company’s strategy and business, the regulatory requirements, or its banking undertakings.