Riyadh – Mubasher: Al Babtain Power and Telecommunication Company reported an increase in annual net profit by 23.4%, as shown by its annual financial results for 2019.

Profit after zakat and tax reached SAR 86 million last year, compared with SAR 69.7 million in 2018.

The rise in profit is attributed to a growth in sales by 47.7%, as well as lower administrative expenses, according to a company statement to the Saudi Stock Exchange (Tadawul).

Furthermore, the company’s board of directors has recommended the distribution of SAR 21.3 million in cash dividends to shareholders for the fourth quarter (Q4) of 2019.

Dividends will be distributed at SAR 0.5 per share, representing 5% of the share’s par value.