#Saudi Telecom Q2 profit climbs, announces dividend | ZAWYA MENA Edition

Saudi Telecom Q2 profit climbs, announces dividend | ZAWYA MENA Edition:

Saudi Telecom Company (STC) reported a 16.8 percent rise in net profit for Q2 2019, as the company’s gross profit surged. The telecom giant also announced a dividend of 1 riyal per share for the quarter.

STC’s Q2 2019 net profit after zakat and tax amounted to 2.85 billion riyals ($759.82 million), compared to 2.44 billion riyals in the same period last year.

The company’s sales rose 3.98 percent to 13.6 billion riyals in Q2 2019, up from 13.08 billion riyals in Q2 2018.