Saudi: GO unveils Q1-24 dividends, financials

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Riyadh –  The board of Etihad Atheeb Telecommunication Company (GO) proposed cash dividends worth SAR 10.19 million, representing 3% of the capital, in the first quarter (Q1) of 2024.

GO will disburse a dividend of SAR 0.30 per share for 33.99 million eligible shares, according to a bourse disclosure.

Meanwhile, the distribution date will be announced after obtaining the general assembly’s approval.

Financials

In the first three months (3M) of 2024, the Saudi firm recorded a 358.39% leap in net profit to SAR 194.68 million, compared to 42.47 million in Q1-23.

Revenues increased by 61.20% to SAR 1.01 billion in Q1-24 from SAR 630.34 million a year earlier, while the earnings per share (EPS) climbed to SAR 6.43 from SAR 1.43.

Last May, the Tadawul-listed firm rolled out two projects at a combined value of SAR 45.50 million.

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