The National Company for Education and Education achieved a growth in annual profits of 14.7% during the financial year of the company ending on August 31, 2020, bringing the profit after zakat and tax to 57.8 million riyals, Compared to about 50.39 million riyals, net profit for the same period of the previous fiscal year.
According to Arabiya Net, the company said in a statement that the reason for the increase in net profit during this year compared to the previous year is due to the consolidation of the financial statements of Al-Khwarizmi Education Company and Schools Company. Al-Ghad Al-Ahlia with the National Company for Education during the current year, which contributed to the increase in revenues and the increase in net profit for the current year.
She also indicated that the depreciation expense decreased for the current year compared to the previous year as a result of changing the useful lives of some classes of fixed assets during the current year.
In another context, the company announced the Board of Directors’s recommendation to distribute cash dividends to shareholders for the fiscal year ending on August 31, 2020, with a total amount of 34.4 million riyals for 43 million Arrow.
and the share of the share of the distribution reached 0.80 riyals, with a ratio of distribution to the nominal value of the share 8%.
The company said that the eligibility of the profits will be for shareholders who own shares on the date of the general assembly and who are registered in the company's shareholders register at the Securities Depository Center at the end of the second trading day following the date of the general assembly. Which will be announced later.
