Riyadh - Mubasher: Saudi Telecom Company (STC) revealed the date for the cash dividends distribution as 1 May 2017, according to a bourse filing.

The dividends will be at SAR 1 per share for two billion eligible shares, the company said in a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The company’s board of directors has invited shareholders who hold twenty or more shares to attend the extraordinary general meeting (EGM) on 10 April in the company head office in Riyadh, to vote on the board and accounts reports for the year 2016.

The entitlement of the dividends will be for the shareholders registered in Tadawul securities depository at the end of trading day of the general assembly meeting on Monday 10 April.

Saudi Telecom profits decreased by 7.8% to SAR 8.5 billion last year from SAR 9.25 billion in the 2015.