The Arabian Cement Company achieved a 340% increase in profits, which amounted to 33.5 million riyals after zakat and tax in the second quarter of 2021, compared to 7.6 million riyals in profits in the same period last year.
According to Arabiya Net, in the first half of the year, profits rose 90.7% to 100.5 million riyals, from 52.7 million riyals announced in the first half of 2020.< /p>
The company said in a statement on the Saudi market website, Tadawul, today, Monday, that the reason for the increase in net profit in the first six months of the year is mainly due to the increase in the value and quantity of sales. In the parent company and subsidiary in Jordan, despite the decrease in the average selling price and the increase in marketing expenses as a result of the increase in export sales quantities.
And revealed the Board of Directors' recommendation to distribute dividends to shareholders for the first half of 2021, with a total of 125 million riyals.
The number of shares entitled to dividends reached 100 million shares, with a share of 1.25 riyals per share, i.e. a distribution ratio to the nominal value of the share at 12.5%.
The company clarified that the eligibility for profits will be for the shareholders who own the shares on Wednesday 10-01-1443 AH corresponding to 08/18-2021 AD, who are registered in the shareholder register issued by the Company. The Securities Depository Center at the end of the second trading day following the maturity date, provided that the distribution date is 01-29-1443.
