Riyadh – Mubasher: The board of Saudi Telecom Company (stc) approved, on 24 August, the dividends distribution policy for the next three years, according to a bourse filing.

The telecom group commits to pay SAR 0.55 per share quarterly for the next three years starting from the dividends distribution of the fourth quarter (Q4) of 2024 until Q3-27.

Further, stc may consider paying special dividends after the assessment of the company's financial position, future outlook, strategic investments and capital expenditure requirements.

Meanwhile, the dividends distribution policy remains subject to change based on any material changes in stc’s strategy and business, regulatory requirements applicable to the company, or banking covenants.

Last July, the Saudi firm announced an interim dividend of SAR 0.40 per share for Q2-24, during which it recorded 9.84% year-on-year (YoY) higher net profits at SAR 3.30 billion.