Abdullah Al-Othaim Markets Board of Directors recommended in its meeting held yesterday, Tuesday, to distribute cash dividends to the company's shareholders by 30% of the capital by 3 riyals per share, with a total value of 270 million riyals .
The distribution proposal came despite the decline in the company's profits last year to 302.6 million riyals; compared to 449.5 million riyals in 2017, a decrease of 32.7%.
The company said that the decrease in annual profits in the past year is mainly due to the results of 2017 included income from non-continuous operations after Zakat amounting to 111.94 million riyals due to the operation and sale of the commercial complex in Medina Hail.
Al-Othaim Markets is an extension of the Saleh Al-Othaim Trading Establishment, which was founded in 1956 by the late Sheikh Saleh Al-Othaim.
The company operates in the food trade, and it has several branches and wholesale and retail centers in Saudi Arabia and Egypt.
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