stc distributes cash dividends of SAR 1.99 billion for Q1

Saudi Telecom Company (stc) announced distribution of interim dividends for the 1st quarter of 2023, with a total amount of SAR 1.99 billion, dividend per share is SAR 0.40, and percentage of dividend to the Share Par Value is 4 %.

The Company stated on Wednesday on Tadawul that the number of shares eligible for dividends is 4,982.18 million shares, and the distribution date will be on Wednesday, corresponding to 07.06.2023

The eligibility of dividends will be for the shareholders at the close of trading on Thursday, 18-5-2023 and as per the registered shareholders in stc’s shareholders at the end of the eligibility day.

This comes in accordance with the dividends, distribution policy for three years period starting from the 4th quarter of 2021, which was ratified during the Ordinary General Assembly Meeting on 30.11.2021. In addition to the amendment on the dividends distribution policy, which was ratified by the Extraordinary General Assembly Meeting on 30-8-2022, by distributing an amount of SAR 0.40 per share per quarter.

The total number of Treasury shares not entitled to dividends related to the Employees Stock Incentives Plan stood at 17,821,798 shares at the end of the first quarter of 2023.

The Company declared that the distribution will be through Riyad Bank by direct bank transfer to shareholders bank accounts linked to their portfolios.

STC urges its shareholders to update their data and to make sure to link their bank accounts numbers to their investment portfolios to ensure the receipt of their cash dividends.

We would like to draw the attention to the following regulation regarding the payment of dividends: for foreign non-resident investors, the dividends paid by the company is subject to a withholding tax of 5% upon transfer to the non-resident investors or credit to its account according to the provisions of Article (68) of the Income Tax Law and Article (63) of the Implementing Regulations.