Kuwait’s Zain Group on Tuesday announced consolidated revenue of USD 5.6 billion, up 14 percent, in 2022, with net profits growing up by six percent to hit USD 640 million. Zain Vice-Chairman and Group CEO Bader Al-Kharafi said in a press statement that cash dividend for 2022 rose to 35 fils per share, pointing out a new recommended policy of cash dividend for an additional three years. The total recommended cash dividends of 25 fils for the second half of 2022 and 35 fils each year for the next three years, will total 130 fils in cash dividends, he said. This expected distribution based on the current share price of Zain as of 13 March 2023, will reflect an average annual yield of approximately eight percent for entitled shareholders for the three-year period, which is one of the highest in the region, he added. Zain is a leading telecommunications operator across the Middle East and Africa providing mobile voice and data services to over 52.4 million active customers as of December 31, 2022. With a commercial presence in seven countries, Zain operates in Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia, Sudan and South Sudan.
Source: Kuwait News Agency