stc Group pays SAR 2.60 special, annual dividend for 2023

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stc today announced the annual consolidated financial results for the year ending at 31st December 2023.

stc revenues for the year 2023 reached SAR 72,337m with an increase of 7.3% as compared to 2022. The growth of revenue was mainly attributed to the increase in commercial unit revenues by 5.1%, carriers and wholesale unit revenues by 1.4% in stc KSA, and the subsidiaries revenues also increased by 23.9%.

Gross Profit for the year 2023 grew by 1.1% as compared to 2022 reaching to SAR 37,804m.

Earnings before Interest, Taxes, Zakat, Depreciation and Amortization (EBITDA) for the year 2023 reached SAR 24,683m with a decrease of (1.6%) as compared to 2022.

Net Profit for the year 2023 increased by 9.2% as compared to 2022 reaching to SAR 13,295m.

stc distributes SAR 0.40 per share for the 4th quarter of 2023, totaling SAR 1,993.80 million.

stc board of directors recommended a special SAR 1 per share dividends for the year 2023, totaling SAR 4,984.50m. The total dividends for the year 2023 (after approving the special cash dividends by the general assembly) will be SAR 2.60 per share, which represents 26% of the share’s par value.