Riyadh: The shareholders of Arabian Cement Company approved cash dividends distribution worth SAR 110 million, representing 11% of the capital, for the second half (H2) of 2022.

The Saudi firm will grant SAR 1.10 per share for 100 million eligible shares, according to a bourse disclosure.

Meanwhile, the payment date for the H2-22 dividends will be 17 April 2023.

This will make the full-year dividends reach SAR 220 million or SAR 2.20 per share, equivalent to 22% of the par value.

The shareholders greenlighted the dividends proposal during the ordinary general meeting (OGM) that was held on 9 April.

Last year, Arabian Cement generated SAR 181 million in net profit after Zakat and tax, up 12.07% from SAR 161.50 million in 2021.

Revenues declined by 6.03% to SAR 970.90 million in 2022 from SAR 1.03 billion, while the earnings per share (EPS) grew to SAR 1.81 from SAR 1.62.

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