The financial statements of the Saudi Telecom Company (STC) showed a slight increase in the company's profits by the end of the second quarter of this year, with a growth of 0.6% on an annual basis.
According to the company’s results for the Saudi market (Tadawul), today, Wednesday, the profits for the period amounted to 2.84 billion riyals, compared to 2.82 billion riyals, profits for the same period in 2021.
The company said that the increase in profits during the comparison periods is due to an increase in revenues by 1.04 billion riyals, which was offset by a rise in revenue and operating expenses costs by 218 million riyals and 353 million riyals, respectively, which led to an increase in total profit and operating profit by 822 million riyals and 470 million riyals. Straight.
The company achieved profits of 5.87 billion riyals in the first half of this year, compared to profits of 5.77 billion riyals for the same period of the previous year, a growth of 1.7%.
The company's board of directors decided to distribute cash dividends to shareholders for the second quarter of this year at a rate of 10% of the nominal value of the share at one riyal per share, and a total amount of approximately two billion riyals.
