Share

SEC to borrow up to $1bn for power plant

Saudi Electricity Co will secure a loan of up to $1 billion to partly finance building a power plant, the utility said on the stock exchange on Tuesday.

Share
Power plant, Saudi Electric, Saudi Electricity Company, Sec, News

Saudi Electricity Co will secure a loan of up to $1 billion to partly finance building a power plant, the utility said on the stock exchange on Tuesday.

SEC has also proposed paying a cash dividend of 0.7 riyals per share for 2015, the utility.

The Gulf's largest utility has paid the same annual dividend since at least 2007, according to Thomson Reuters data.

Saudi Electricity's annual profit for 2015 was 1.51 billion riyals ($402.77 million), down from a profit of 3.61 billion riyals, it said in January.

Newsletter

Most Popular