Saudi Zain likely to turn profitable, pay dividends: CEO

Zain Saudi Arabia will likely swing to profitability and pay cash dividends to long-awaiting shareholders, said chief executive Hassan Kabbani.

The high-priced license issued by the kingdom has negatively impacted the telecom operator’s financials, as it is the third, most expensive entrant license in the world.

Otherwise, Zain Saudi has a healthy balance sheet and strong performance, he was quoted as saying in CNBC Arabia.

The telecom operator has laid out an aggressive plan to reach a break-even point, he added.

Saudi Zain incurred SAR 306 million losses in fourth quarter of 2014, according to data available on Argaam.