The financial statements of Bin Dawood Holding Company revealed that the company’s net profit after zakat and tax decreased by 31.4% at the end of the first half of this year, on an annual basis.
According to the company’s results for the Saudi market, Tadawul, today, Wednesday, the profits for the period amounted to 107.79 million riyals, compared to profits for the same period last year, which amounted to 157.10 million riyals.
The company said that the decline in profits during the comparison periods is due to the impact of marketing campaigns and loyalty program activities, explaining that revenues rose 6.6% on an annual basis to reach 2.4 billion riyals.
The company's profits shrank 55.4% at the end of the second quarter of this year, reaching 42.34 million riyals, compared to profits for the same period last year, which amounted to 94.99 million riyals.
The company announced the distribution of cash dividends to shareholders for the first half of this year at a rate of 9% of the nominal value of the share at 0.9 riyals per share, with a total value of 102.87 million riyals.
The company clarified that the eligibility for dividend distributions will be for the shareholders who own shares in the company at the end of trading on Sunday, September 11, 2022 and who are registered in the company’s shareholders register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the due date, provided that the distribution will be on the next 25 September .
