Power and Water Utility Company for Jubail and Yanbu (Marafiq) recorded a 27.23% growth in net profit after Zakat and tax to SAR 845.65 million in 2022, versus SAR 664.65 million in 2021.

The Saudi firm generated revenues worth SAR 6.50 billion in the January-December 2022 period, up 5.05% year-on-year (YoY) from SAR 6.19 billion, according to the annual financial results.

Earnings per share (EPS) increased to SAR 3.38 last year from SAR 2.53 in 2021.

Dividends for H2-22

The board of Marafiq announced on 1 March 2023 cash dividends worth SAR 275 million, equivalent to 11% of the company's capital, for the second half (H2) of 2022.

In this regard, the Saudi firm will pay out a dividend of SAR 1.10 per share for 250 million eligible shares.

Meanwhile, the eligibility and distribution dates for the H2-22 dividends will be on 8 and 23 March 2023, respectively.

During the first nine months (9M) of 2022, the company’s net profit after Zakat and tax jumped by 21.84% YoY to SAR 714.43 million from SAR 586.34 million.

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