stc approves transfer of SAR 11.2 bln statutory reserve to retained earnings

22/06/2023 Argaam

stc approves transfer of SAR 11.2 bln statutory reserve to retained earnings

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Shareholders of Saudi telecom operator, stc, approved transferring the balance of SAR 11.2 billion from the statutory reserve to retained earnings as shown in the company’s 2022 financial statements.

 

They also ratified amending the company’s bylaws in line with the new Companies Law, stc said in a statement to Tadawul.

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