Riyadh – Mubasher: The board of directors of the Saudi Telecom Company (STC) has approved distributing 10% cash dividends to shareholders for the second quarter of 2019.

The telecom company will pay a total of SAR 2 billion, or SAR 1 per share, for Q2-19, according to a recent bourse filing.

The eligibility of dividends shall be for the shareholders at the close of trading on Monday, 29 July, as per the registered shareholders in the register of The Securities Depository Center Company at the end of the second trading day following the eligibility date.

Dividends will be distributed on 26 August.

The company added that the distribution will be through Saudi Fransi Bank branches by direct bank transfer to shareholders bank accounts linked to their portfolios.

It is worth noting that STC announced its interim condensed consolidated financial results for the second quarter of 2019.

Net profits after zakat and tax increased by 16.53% year-on-year to SAR 2.8 billion in Q2-19.