Riyadh – Mubasher: Saudi Telecom Company (stc) witnessed an 8.22% growth in net profit after Zakat and tax to SAR 9.41 billion during the first nine months (9M) of 2022, versus SAR 8.69 billion in 9M-21.

Revenues increased by 6.48% year-on-year (YoY) to SAR 50.39 billion in the January-September 2022 period, compared to SAR 47.33 billion, according to the interim consolidated financial results.

The earnings per share (EPS) stood at SAR 1.89 in 9M-22, higher than SAR 1.74 in 9M-21.

During the third quarter (Q3) of 2022, the telecom firm registered net profits after Zakat and tax worth SAR 3.54 billion, an annual surge of 21.10% from SAR 2.92 billion.

Meanwhile, the revenues grew by 4.66% YoY to SAR 16.46 billion in Q3-22 from SAR 15.73 billion.

On a quarterly basis, the Q3-22 net profits after Zakat and tax jumped by 24.81% from SAR 2.83 billion in Q2-22, while the revenues declined by 2.78% from SAR 16.93 billion.

Dividends

In a separate bourse filing, stc announced interim cash dividends worth SAR 1.99 billion for Q3-22. The Saudi company will distribute a dividend of SAR 0.40 per share, representing 4% of the share nominal value, for 4.99 billion eligible shares.

Meanwhile, the eligibility and distribution dates will be on 2 and 22 November, respectively.

During the first half (H1) of 2022, the net profits after Zakat and tax of stc amounted to SAR 5.87 billion, up 1.71% from SAR 5.77 billion during the same period in the previous year.