Saudi Telecom to Vote on 26 Million Share Buyback May 6

Saudi Telecom Company (stc) has announced that its shareholders are set to convene for an extraordinary general meeting (EGM) on May 6. The primary agenda item for the session is a vote on the company’s proposal to repurchase 26 million of its own shares. These shares are intended to be held as treasury stock as part of the company's efforts to implement its employee stock incentive program. The meeting will allow shareholders to review and approve the buyback initiative, which serves as a strategic move to align internal incentives with the firm's long-term corporate objectives.