The board of Qassim Cement Company proposed cash dividends amounting to SAR 58.50 million, equivalent to 6.50% of the capital, for the first quarter (Q1) of 2023.

The Saudi firm will disburse SAR 0.65 per share for 90 million eligible shares, according to a bourse disclosure.

Eligibility and payment dates for the Q1-23 dividends will be 28 May and 14 June 2023, respectively.

During the first three months (3M) of 2023, Qassim Cement witnessed 119.02% higher net profits after Zakat and tax at SAR 54.93 million, compared to SAR 25.08 million in Q1-22.

Revenues surged by 22.16% to SAR 174.07 million during Q1-23 from SAR 142.49 million in Q1-22, while the earnings per share (EPS) jumped to SAR 0.61 from SAR 0.28.

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