Saudi: Fitness Time to disburse $13.6mln dividends for Q1-24

PHOTO

The shareholders of Leejam Sports Company (Fitness Time) approved cash dividends amounting to SAR 50.81 million in the first quarter (Q1) of 2024.

The company will disburse a dividend of SAR 0.97 per share, equivalent to 9.70% of the share’s nominal value, for 52.38 million eligible shares.

Fitness Time highlighted that the distribution date will be 25 June 2024, according to a bourse disclosure.

The shareholders greenlighted the cash dividends during the extraordinary general meeting (EGM) that was held on 6 June, while the board recommended the amount last May.

Fitness Time recorded 49.20% higher net profits at SAR 94 million in Q1-24, compared to 63 million in Q1-23.

Revenues increased by 24.18% to SAR 344 million in Q1-24 from SAR 277 million a year earlier, while the earnings per share (EPS) climbed to SAR 1.80 from SAR 1.20.