Money and business
STC profits rise to 24.68 billion riyals in 2024
The net profit of the Saudi Telecom Company (STC) in 2024 increased by 85.7% to 24.689 billion riyals, compared to 13.295 billion riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, it is mainly due to the following reasons:
– The increase in revenues by 4,116 billion riyals, which was met with a rise in the costs of revenues at an amount of 1,556 billion riyals, knowing that the dedicated dedication of the deduction tax was reflected in the amount of 1,500 billion riyals during this year compared to a dedicated item for an unacceptable item in the amount of 724 million riyals that was reflected in the previous year, which led to The total profit increased by 2,560 billion riyals.
– Registering a net profit from unprecedented operations in the amount of 13,973 billion Saudi riyals compared to 759 million riyals, mainly from registering the STC sale gains for a controlling share in its subsidiary companies, the Towers Towers Company (Tawal), and the Digital Investment Company in the amount of 12,885 billion riyals within this year.
– The decrease in zakat and income tax is 135 million riyals.
On the other hand:
– The operational expenses increased by 1,296 billion riyals, and this is mainly due to the high sales and marketing expenses of 692 million riyals, resulting in a registration of allocated debts that are doubtful in their collection of 554 million riyals, and public and administrative expenses, consumption and firefighting increased by 388 million riyals and 216 million riyals (respectively (respectively ).
– The total revenue (expenses) has been registered in the amount of (2,291) billion riyals compared to 826 million riyals, and this is mainly due to:
1. Register the cost of the early retirement program at an amount of (2,577) billion riyals compared to (863) million riyals.
2. Register the net share in the results and low value of investments in colleague companies and joint projects in the amount of (666) million riyals compared to 53 million riyals, and this is mainly due to a custom registration of a decrease in value at an amount of 764 million riyals in relation to investment in the Beniarang GSM Holding Group During this year, as a result of changing the state of markets for basic investment.
3. The net net gains decreased by 804 million riyals, mainly from registering the gains of selling the land of the news in the previous year by 1,296 billion riyals, knowing that gains were registered from the re -evaluation of the STV Fund for the bold capital during this year with an amount of 383 million riyals Saudi.
4. The increase in financing costs at 166 million riyals.
5. This is despite: (a) The increase in financing revenues at 236 million riyals.
(B) A decrease in net expenses of 50 million riyals
Yesterday, the Board of Directors of the Saudi Telecom Company (STC) recommended the distribution of (2) riyals per share, as additional cash profits to STC shareholders for 2024, and will be presented to the General Assembly at its next meeting to vote.
The total amount distributed is estimated at 9,973.82 billion riyals, while the number of shares due for profits is 4,986.91 billion shares.
The share share of the distribution is 2 riyals, while the distribution rate to the nominal share value is 20%.
The additional distributions of the additional cash dividends for the shareholders who owned shares will be at the end of the second trading day that follows the day of the General Assembly, which will be announced later, while the date of the distribution will be subsequently subsequently.
In line with the profit distribution policy for a period of three years, which started from the fourth quarter of 2024 AD, which was approved during the regular general assembly meeting on 04/04/1446 AH corresponding to 6-11-2024 AD. By distributing 0.55 riyals per share per quarter year, STC will distribute cash profits to shareholders for the fourth quarter of the year 2024 AD.
The total amount distributed is estimated at 2,742.80 billion riyals, while the number of shares due for profits is 4,986.91 billion shares.
The share share of the distribution is 0.55 riyals, while the distribution rate to the nominal share value is 5.5%.
The right date will be 1446-09-05 corresponding to 2025-03-05, while the distribution date will be 1446-09-24 corresponding to 2025-03-24.
According to the company’s statement on Saudi Arabia’s circulation, it is mainly due to the following reasons:
– The increase in revenues by 4,116 billion riyals, which was met with a rise in the costs of revenues at an amount of 1,556 billion riyals, knowing that the dedicated dedication of the deduction tax was reflected in the amount of 1,500 billion riyals during this year compared to a dedicated item for an unacceptable item in the amount of 724 million riyals that was reflected in the previous year, which led to The total profit increased by 2,560 billion riyals.
– Registering a net profit from unprecedented operations in the amount of 13,973 billion Saudi riyals compared to 759 million riyals, mainly from registering the STC sale gains for a controlling share in its subsidiary companies, the Towers Towers Company (Tawal), and the Digital Investment Company in the amount of 12,885 billion riyals within this year.
– The decrease in zakat and income tax is 135 million riyals.
On the other hand:
– The operational expenses increased by 1,296 billion riyals, and this is mainly due to the high sales and marketing expenses of 692 million riyals, resulting in a registration of allocated debts that are doubtful in their collection of 554 million riyals, and public and administrative expenses, consumption and firefighting increased by 388 million riyals and 216 million riyals (respectively (respectively ).
– The total revenue (expenses) has been registered in the amount of (2,291) billion riyals compared to 826 million riyals, and this is mainly due to:
1. Register the cost of the early retirement program at an amount of (2,577) billion riyals compared to (863) million riyals.
2. Register the net share in the results and low value of investments in colleague companies and joint projects in the amount of (666) million riyals compared to 53 million riyals, and this is mainly due to a custom registration of a decrease in value at an amount of 764 million riyals in relation to investment in the Beniarang GSM Holding Group During this year, as a result of changing the state of markets for basic investment.
3. The net net gains decreased by 804 million riyals, mainly from registering the gains of selling the land of the news in the previous year by 1,296 billion riyals, knowing that gains were registered from the re -evaluation of the STV Fund for the bold capital during this year with an amount of 383 million riyals Saudi.
4. The increase in financing costs at 166 million riyals.
5. This is despite: (a) The increase in financing revenues at 236 million riyals.
(B) A decrease in net expenses of 50 million riyals
Yesterday, the Board of Directors of the Saudi Telecom Company (STC) recommended the distribution of (2) riyals per share, as additional cash profits to STC shareholders for 2024, and will be presented to the General Assembly at its next meeting to vote.
The total amount distributed is estimated at 9,973.82 billion riyals, while the number of shares due for profits is 4,986.91 billion shares.
The share share of the distribution is 2 riyals, while the distribution rate to the nominal share value is 20%.
The additional distributions of the additional cash dividends for the shareholders who owned shares will be at the end of the second trading day that follows the day of the General Assembly, which will be announced later, while the date of the distribution will be subsequently subsequently.
In line with the profit distribution policy for a period of three years, which started from the fourth quarter of 2024 AD, which was approved during the regular general assembly meeting on 04/04/1446 AH corresponding to 6-11-2024 AD. By distributing 0.55 riyals per share per quarter year, STC will distribute cash profits to shareholders for the fourth quarter of the year 2024 AD.
The total amount distributed is estimated at 2,742.80 billion riyals, while the number of shares due for profits is 4,986.91 billion shares.
The share share of the distribution is 0.55 riyals, while the distribution rate to the nominal share value is 5.5%.
The right date will be 1446-09-05 corresponding to 2025-03-05, while the distribution date will be 1446-09-24 corresponding to 2025-03-24.
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