stc logs higher profits at SAR 11.2bn in 9M-24; dividends for Q3 announced - Mubasher Info
STC
7010 0.59% 42.30 0.25
Riyadh – Mubasher: Saudi Telecom Company (stc) registered net profits worth SAR 11.23 billion in the first nine months (9M) of 2024, up 1.92% year-on-year (YoY) from SAR 11.02 billion.
In January-September 2024, the revenues climbed by 3.92% YoY to SAR 56.62 billion from SAR 54.48 billion, according to the interim financial statements.
Earnings per share (EPS) stood at SAR 2.25 in 9M-24, compared to SAR 2.21 in 9M-23.
Financials for Q3-24
In the third quarter (Q3) of 2024, stc recorded a 5.33% decline in net profit to SAR 4.64 billion, versus SAR 4.90 billion a year earlier.
Revenues increased by 3.37% to SAR 18.64 billion in Q3-24 from SAR 18.03 billion in April-September 2-23.
Quarterly, the Q3-24 net profits hiked by 40.52% from the SAR 3.30 billion reported in Q2-24, while the revenues fell by 1.98% from SAR 19.02 billion.
Dividends for Q3-24
In line with its distribution policy, stc will pay cash dividends amounting to SAR 1.99 billion for Q3-24. The Saudi telecom group will disburse a dividend of SAR 0.40 per share for 4.98 billion eligible shares.
Eligibility and payment dates for the dividends will be 6 and 26 November 2024, respectively.
Source: Mubasher Source: {{details.article.source}}