Riyadh – Mubasher: Saudi Telecom Company (stc) recorded a rise of 2.44% in net profit after Zakat and tax to SAR 3.10 billion during the first quarter (Q1) of 2023, versus SAR 3.03 billion in Q1-22.
Revenues climbed by 7.45% year-on-year (YoY) to SAR 18.17 billion in Q1-23 from SAR 16.91 billion, according to the interim consolidated financial results.
The earnings per share (EPS) amounted to SAR 0.62 during the first three months (3M) of 2023, compared to SAR 0.61 in the year-ago period.
On a quarterly basis, the Q1-23 net profits hiked by 12.77% from SAR 2.75 billion in Q4-22, while the revenues grew by 6.72% from SAR 17.03 billion.
Dividends
The company's board members proposed interim cash dividends worth SAR 1.99 billion, equivalent to 4% of the capital, for Q1-23.
In this regard, the telecom firm will grant SAR 0.40 per share for 4.98 billion eligible shares.
The eligibility and distribution dates for the recommended dividends will be 18 May and 7 June 2023, respectively.
Last year, stc logged net profits after Zakat and tax valued at SAR 12.17 billion, up 7.60% from SAR 11.31 billion in the January-December 2021 period.
