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Friday, April 19, 2024 8:10 GMT
Saudi Telecom Co., better known as stc, has received its board’s approval to repurchase up to 15 million shares at SR453 million (US$121 million) for an employee incentive plan.After shareholders approve the proposal, the shares shall be purchased within one year from the extraordinary general assembly date, stc said in a bourse filing. The shares will be allocated towards the employees’ stock incentive program, whereby they will not be entitled to dividends during the period the company holds the shares.