stc shareholders approve dividend policy for next 3 years

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Telecom major stc said its shareholders approved dividends policy for the next three years, starting from the fourth quarter of 2024 until the third quarter of 2027.

This came during the ordinary general meeting (OGM) held on Nov. 6, according to a statement to Tadawul.

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According to the policy, the telco will pay a fixed dividend of SAR 0.55 a share per quarter for the next three years, Argaam earlier reported.

Further, the company may consider paying an additional dividend, subject to the board’s recommendation, after assessing its financial situation, outlook, and capital expenditure needs.

The dividend policy is subject to change based on any material developments in the company’s strategy and business, banking undertakings, or regulatory requirements.

During the meeting, shareholders approved the appointment of Deloitte as the company’s auditor to review, and audit financial statements for the years 2025, 2026, 2027, and 2028, with fees set at SAR 79.13 million, excluding VAT.