Saudi: BinDawood Holding logs $45.46mln profits in 9M-24; dividends unveiled

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Riyadh – BinDawood Holding Company generated net profits valued at SAR 170.59 million in the first nine months (9M) of 2024, up 12.17% year-on-year (YoY) from SAR 152.06 million.

The company posted revenues worth SAR 4.25 billion in January-September 2024, higher by 2.42% than SAR 4.15 billion in 9M-23, according to the interim financial statements.

Earnings per share (EPS) amounted to SAR 0.14 in 9M-24, unchanged from 9M-23.

Financials for Q3-24

In the third quarter (Q3) of 2024, BinDawood Holding recorded a 2.82% jump in net profit to SAR 34.99 million, compared to SAR 34.03 million a year earlier.

Revenues witnessed an annual rise of 0.18% to SAR 1.36 billion during the three-month period that ended on 30 September 2024, versus SAR 1.35 billion.

Quarterly, the Q3-24 net profits retreated by 53.36% from the SAR 75.04 million reported in Q2-24, while the revenues dropped by 3.98% from SAR 1.41 billion.

Dividends

The company’s board members approved cash dividends worth SAR 114.10 million, representing 10% of the share nominal value, for Q3-24.

The group will disburse a dividend of SAR 0.10 per share for 1.14 billion eligible shares.

Eligibility and payment dates for the dividends will be 25 November and 8 December 2024, respectively.