AI Summary
Saudi Telecom Co.’s (STC) board of directors has recommended paying a cash dividend at SAR 1 per share, or 10 percent of the stock’s nominal value for Q4 2018, the telecom operator said in a bourse statement on Sunday.
The board also proposed paying an exceptional cash dividend at SAR 2 per share, or 20 percent of the stock’s nominal value for 2018.
Accordingly, the telecom operator will pay cash dividend at 30 percent of the stock’s nominal value, or SAR 3 per share, totaling SAR 6 million for Q4 and FY2018.
Shareholders of record on the second day following the general meeting will be entitled to this dividend.
The payment date will be determined later.
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Dividend Details (Q4 2018) |
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Current Capital |
SAR 20 bln |
|
Number of shares |
2 bln |
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Dividend |
SAR 2 bln |
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Percentage of capital |
10% (SAR 1 per share) |
|
Record date |
The second day following the general meeting |
|
Payment date |
To be determined |
|
Exceptional Dividend for 2018 |
|
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Total dividend |
SAR 4 bln |
|
Percentage of capital |
20% (SAR 2/share) |
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Record Date |
The second day following the general meeting |
|
Payment Date |
To be determined |
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Total Dividend for 2018 |
|
|
Total dividend |
SAR 12 bln |
|
Percentage of capital |
60% (SAR 6/share) |
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