Riyadh – Mubasher: Saudi Electricity Company (SEC) has recorded net profits after Zakat and tax worth SAR 14.39 billion last year, a year-on-year (YoY) jump of 375.57% from SAR 3.02 billion.

The revenues went up 0.91%, reaching SAR 69.33 billion in 2021 from SAR 68.70 billion in 2020, according to the financial results on Wednesday.

Moreover, the earnings per share (EPS) rose from SAR 0.5 in 2020 to SAR 1.62 in 2021.

In a separate bourse filing, the company’s board has recommended a cash dividend of SAR 0.70 per share for 2021.

SEC will pay a total of SAR 2.91 billion, representing 7% of the capital, for 4.16 billion eligible shares.

The company will announce the eligibility and distribution dates at a later time.

It is noteworthy to mention that during the first nine months (9M) of 2021, the listed firm turned to net profits standing at SAR 14.89 billion. 

In the first half (H1) of 2021, SEC achieved net profits after Zakat and tax worth SAR 7.51 billion, versus losses of SAR 3.31 billion in the corresponding period a year earlier.