Qassim Cement Company’s board of directors recommended (by scrolling) in its meeting held on Monday, the distribution of cash dividends to the company’s shareholders for the period of the second quarter of this year ending on June 30, 2022.
Qassim Cement said in a statement to the Saudi market (Tadawul) today, Tuesday, that the board of directors recommended distributing cash dividends for the second quarter of this year at 5% of the nominal value of the share, at 0.50 riyals per share.
Qassim Cement explained that the total amount proposed to be distributed to shareholders for the second quarter of this year is 45 million riyals, while the number of shares entitled to dividends is 90 million shares.
The company stated that the due date is on Sunday, September 25, 2022, provided that the eligibility is for the shareholders who own shares on the due day who are registered in the company’s shareholders register at the Depository Center at the end of the second trading day following the due date.
While Qassim Cement set the date of distributing profits for the second quarter of this year on Wednesday, October 12, 2022.
The distribution will be through direct transfer to the bank accounts linked to the shareholders' investment portfolios, and the company calls upon the shareholders to update their data with the banks in which their accounts are held to ensure that their due profits are deposited directly in the future.
Qassim Cement's profits declined by 71.1% at the end of the second quarter of this year, reaching 28.96 million riyals, compared to profits of about 100.18 million riyals in the same period last year.
The results also showed a decline in the company's profits in the first half of this year to 54.04 million riyals, compared to 201.05 million riyals, profits for the same period in 2021, with a decrease in profits by 73.1%.
