Fitaihi Holding Group achieved a 1643% jump in net profit for the third quarter of 2020 to reach 38 million riyals, compared to 2.18 million riyals for the third quarter of last year. / p>
According to Arabiya Net, the company clarified that the increase in net profit is due to 5 reasons, including receiving dividends from investments, and increasing the company's share in the results of the work of associates, In addition to making profits from selling shares of an associate company.
and indicated that the reasons for the increase in net profit also include the decrease in total selling and administrative expenses, and the failure to achieve losses from discontinued operations.
In addition, Fitaihi's board of directors decided to distribute cash dividends to shareholders for the first half of the fiscal year.
The company said, in a statement on the Saudi Stock Exchange website Tadawul, that the total dividends amounting to 11 million riyals will be distributed to 55 million shares, by 20 halalas per share , Represents 2% of its face value.
the company added that the eligibility for dividends to shareholders who own shares on the due date corresponding to Tuesday, November 17, and who are registered in the company's shareholders register at the Depository Center at the end of the second trading day that follows Due date.
and noted that the distributions will be disbursed on Monday, December 7, 2020.
