Al-Riyadh Development Company's profits increased by 162.8% in the second quarter of 2021 to reach 143.41 million riyals after zakat and tax, compared to 54.56 million riyals net profit for the quarter. Similar from 2020.
According to Arabiya Net, the net profit of Riyadh Development increased by 29.2% in the second quarter of this year, compared to a net profit of about 111 million riyals in the first quarter of 2021.
The company said in a statement on the Saudi Tadawul, today, Wednesday, that the increase in net profits for the second quarter of 2021, on an annual basis, is due to the increase in the revenues of the operating and leasing sectors and the company’s profits from the results of the associate company’s business.
During the first half of this year, the net profit of Al-Riyadh Development increased by 183.6% to reach 254.44 million riyals, compared to 89.7 million riyals, net profit for the same period of the year 2020.
In a related context, the Board of Directors of Al-Riyadh Development Company decided to distribute cash dividends to the company’s shareholders for the first half of 2021, with a total of about 177.78 million riyals, at one riyal per share, with a distribution ratio to the nominal value of the share 10%.
The eligibility for profits is for the company’s shareholders who own shares on the due date of September 9, 2021, and are registered in the company’s shareholders register with the Securities Depository Center Company at the end of the second trading day following the due date, while the distribution date is September 30, 2021.
