Riyadh: Arriyadh Development Company announced cash dividends amounting to SAR 44.44 million for the second half (H2) of 2022, equivalent to 2.50% of the capital.

The Saudi firm will grant SAR 0.25 per share for 177.77 million eligible shares on 18 May 2023, according to a bourse disclosure.

It is worth noting that the company’s shareholders approved the dividends proposal during the ordinary general meeting (OGM) that was held on 30 April.

Last year, Arriyadh Development generated SAR 300.40 million in net profit after Zakat and tax, down 5.62% from SAR 318.30 million in 2022.

Revenues increased by 3.19% to SAR 258.90 million in 2022 from SAR 250.90 million a year earlier, while the earnings per share (EPS) declined to SAR 1.69 from SAR 1.79.

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