As a result of the impairment charges of SAR 641 million and STC's share of extra regulatory fees for Aircel of SAR 544 million, net profit in the fourth quarter fell 79 percent to SAR 468 million. Excluding the charges, STC said net income would have been SAR 8.54 billion for the year, an increase of 10.4 percent compared to 2011.
The board recommended the distribution of SAR 1.0 billion in cash dividends for Q4 2012, equal to SAR 0.5 per share.
STC's total domestic mobile customer base increased 9.3 percent compared to Q4 2011 and 2.6 percent compared to Q3 2012. The fibre-optic network reached over 500,000 homes passed by year-end and counted more than 100,000 connected customers.
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