STC declares 10% dividend for Q1 2019

Saudi Telecom Co.’s (STC) general assembly has approved a 10 percent cash dividend for the first quarter of 2019, at SAR 1 per share, amounting to SAR 2 billion.

Shareholders have also approved establishing an international securities (sukuk) program and issuing sukuk under the program, either directly or through creating an offshore special purpose vehicle to issue primary or secondary securities (sukuk) in one or more tranches or through one issue or a series of issues for an amount not exceeding (US $5 billion). The total value of the issue or parts of it as per the sukuk program, to be issued at any time, and at the amounts, timings, periods, conditions and other details in accordance with the approval of the board of directors from time to time. The board of directors may undertake all necessary actions and procedures to establish the program and issue sukuk.