Riyadh: The net profits after Zakat and tax of Makkah Construction and Development Company reached SAR 104 million in 2022, higher by 85.71% than SAR 56 million in 2021.

Revenues surged by 21.63% year-on-year (YoY) to SAR 253 million during the January-December 2022 period, versus SAR 208 million, according to annual financial results.

The earnings per share (EPS) amounted to SAR 0.63 last year, up from SAR 0.34 in 2021.

Dividends

The company’s board members suggested, on 30 March 2023, cash dividends worth SAR 164.81 million for 2022.

Makkah Construction would disburse SAR 1 per share for 164.81 million eligible shares. The proposed dividends equal 10% of the share nominal value.

Meanwhile, the distribution date for the dividends will be announced after obtaining the general assembly’s approval.

During the 13 June-30 September 2022 period, the Tadawul-listed firm logged net profits after Zakat and tax worth SAR 58 million, an annual hike of 383.33% from SAR 12 million.

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