Riyadh – Mubasher: Saudi Electricity Company (SEC) achieved an annual increase of 5.17% in net profit after Zakat and tax to SAR 15.13 billion during 2022, compared to SAR 14.39 billion.

The earnings per share rose to SAR 1.79 in 2022 from SAR 1.62 in 2021, according to the income results.

SEC generated revenues worth SAR 72.07 billion during the January-December 2022 period, higher by 3.95% than SAR 69.33 billion in the same 12 months a year earlier.

Dividends

The board members of the electricity firm recommended, on 14 March, to distribute SAR 0.70 per share as a cash dividend for 2022.

SEC would pay a total of SAR 2.91 billion, representing 7% of the capital, for 4.16 billion eligible shares as 2022 dividends. It will announce the distribution date at a later time.

During the first nine months (9M) of 2022, the company witnessed a 10.08% plunge in net profit after Zakat and tax to SAR 13.39 billion from SAR 14.89 billion in 9M-21. Meanwhile, the revenues increased to SAR 55.68 billion from SAR 53.76 billion.