The financial results of the Saudi Tadawul Group Holding Company revealed that the company’s profits declined last year by 28% on an annual basis, to reach 424.6 million riyals, compared to 587.7 million riyals, the company’s profits in 2021.
According to the results of (Tadawul Group) published on the Saudi Market website, today, Sunday, the company’s revenues last year amounted to 1.071 billion riyals, compared to 1.166 billion riyals in 2021, with a decrease in revenues by 8.1%.
The Tadawul Group said in a statement to the Stock Exchange that the decline in profits during the comparison years is mainly due to a decrease in operating revenues by 8.1%, as a result of a decrease in trading revenues and revenues from post-trading services due to a decrease in trading activities by 23%.
Tadawul Group also attributed the decrease in profits to the increase in operating expenses by 16.6% on an annual basis, to reach 644.3 million riyals in the past year, compared to 552.5 million riyals in 2021, due to the increase in salary costs and related benefits, driven by the increase in The number of employees, according to the group's plan.
The Board of Directors (Tadawul Group) recommended distributing cash dividends to the company’s shareholders for the past year at a rate of 23.1%, at 2.31 riyals per share, with a total value estimated at about 277.13 million riyals, noting that the number of shares entitled to dividends is 120 million shares.
The company stated in the statement that the eligibility for dividends will be for the shareholders who own the company’s shares at the end of the second trading day following the day of the company’s general assembly meeting (which will be announced later), and who are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa).
