The board members of Arabian Contracting Services Company (Al Arabia) proposed cash dividends worth SAR 20 million, representing 4% of the capital, for the second half (H2) of 2022.

The Saudi firm would pay out a dividend of SAR 0.40 per share for 50 million eligible shares, according to a bourse filing.

Meanwhile, the distribution date for the H2-22 dividends will be announced at a later time.

Last year, Al Arabia recorded net profits after Zakat and tax valued at SAR 274.70 million, higher by 33.19% than SAR 206.24 million in 2021.

Revenues enlarged by 56.28% to SAR 1.12 billion as of 31 December 2022 from SAR 720.63 million in 2021, while the earnings per share (EPS) increased to SAR 5.49 from SAR 4.12.

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