Riyadh – Najran Cement Company announced the distribution of SAR 42.50 million, representing 2.50% of the capital, as cash dividends for the second half (H2) of 2022.

Eligible shareholders will receive SAR 0.25 per share on 4 May 2023, according to a bourse filing.

This will bring the full-year cash dividends to SAR 85 million or SAR 0.50 per share, equivalent to 5% of the share nominal value.

It is worth noting that the board members recommended the H2-22 dividends last March, while the shareholders greenlighted the proposal during the ordinary general meeting (OGM) on 11 April 2023.

In the January-December 2022 period, the Saudi firm achieved net profits after Zakat and tax of SAR 113.74 million, down 31.29% from SAR 165.54 million a year earlier.

Revenues declined by 7.89% to SAR 535.68 million last year from SAR 581.55 million as of 31 December 2021, while the earnings per share (EPS) retreated to SAR 0.67 from SAR 0.97.

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