The share of the Saudi Mobile Telecommunications Company, Zain Saudi Arabia, witnessed a significant increase during today's Sunday session; to record its highest gain in about two and a half years; This coincides with the announcement of the financial results and dividends for the year 2022.
The stock jumped about 9.93%, by 11:45 Saudi time, it came third in the list of winning stocks, which is the highest gain per share since the October 15, 2020 session, raising it to the level of 11.84 riyals.
The volume of trading on the stock at those moments amounted to 2.33 million shares, with a value of 27.6 million riyals, so that the stock ranked third among the active stocks in terms of quantity.
The general index of the Saudi market came in green, in the meantime, with a marginal increase of 0.01%, with a gain of 1.09 points; It rose to the level of 10,447.48 points.
Today, Sunday morning, Zain Saudi Arabia announced its financial results for the year 2022, and the distribution of the first cash dividends to shareholders, for the first time since the listing.
The company's financial results revealed a jump in profits during 2022, amounting to 157%, to reach 550 million riyals, compared to 214 million riyals, the company's profits in 2021.
The board of directors of Zain Saudi Arabia recommended distributing cash dividends to shareholders for the fiscal year 2022, at a value of 449.36 million riyals, equivalent to 0.50 riyals per share.
