Saudi Telecom Co.’s (STC) board of directors has recommended paying a cash dividend at SAR 1 per share, or 10 percent of the stock’s nominal value for Q4 2018, the telecom operator said in a bourse statement on Sunday.

 

The board also proposed paying an exceptional cash dividend at SAR 2 per share, or 20 percent of the stock’s nominal value for 2018.

 

Accordingly, the telecom operator will pay cash dividend at 30 percent of the stock’s nominal value, or SAR 3 per share, totaling SAR 6 million for Q4 and FY2018.

 

Shareholders of record on the second day following the general meeting will be entitled to this dividend.

The payment date will be determined later. 

 

Dividend Details (Q4 2018)

Current Capital

SAR 20 bln

Number of shares

2 bln

Dividend

SAR 2 bln

Percentage of capital

10% (SAR 1 per share)

Record date

The second day following the general meeting

Payment date

To be determined

Exceptional Dividend for 2018

Total dividend

SAR 4 bln

Percentage of capital

20% (SAR 2/share)

Record Date

The second day following the general meeting

Payment Date

To be determined

Total Dividend for 2018

Total dividend

SAR 12 bln

Percentage of capital

60% (SAR 6/share)

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