"Saudi Electricity Company has increased by 118% in annual profits, with net profits after Zakat and the tax to 3.026 billion riyals in 2020, compared to SR 1.388 billion in 2019.
> The rise of operational revenues is due to the continued growth of the subscriber base, in addition to the abolition of the deferred tax expenses of SAR 412 million in accordance with the amendment of the Headquarters Income Tax System (2020) / p>
> The Ministerial Committee approved the restructuring of the electricity sector to determine the revenue of Saudi Electricity Company (required income) for 2020 riyals at 68.764 billion riyals, including activation of the budget account for 2020 SR 6.131 billion.
In the context of the Board of Directors, the Board of Directors of the Saudi Electricity Company for the General Assembly of the Company's shareholders to disperse cash dividends from the fiscal year 2020, by 2.9 billion riyals, with a share of the distribution of 0.70 riyals , By distribution to the value of nominal stock 7%.
"The company has turned into a net profit of about 4.1 billion riyals in the fourth quarter of 2020, against losses of about 591.4 million riyals in the same quarter of 2019 . ...
