The Board of Directors of the Southern Region Cement Company, Southern Cement, approved the distribution of cash dividends to the company's shareholders for the first half of the fiscal year 2021, with a total value of 175 million riyals.
According to Arab Net, South Cement said in a statement that dividends are distributed to 140 million shares, at 1.25 riyals per share.
The company pointed out that the eligibility for profits is for the company's shareholders who own shares at the end of trading on Tuesday, August 10, 2021, and who are registered in the company's shareholders register at the end of the second trading day following the due date. /p>
The Southern Region Cement Company recorded a decline in its net profit after zakat and tax by 4.3% to 175 million riyals during the first quarter ending on March 31, 2021, compared to recording profits With 183 million riyals during the same period last year.
The company said in a statement that the decline in net profit in the first quarter compared to the same quarter of the previous year was due to a decrease in sales revenue by 3.94% and a decrease in the amount of sales by 1.75% .
These figures come in light of an increase in general and administrative expenses by 14.4% and a decrease in other miscellaneous income by 51.16%.
The total sales during the first quarter amounted to 439 million riyals, compared to 457 million riyals for the same quarter of the previous year, with a decrease of 3.94%.
The total shareholders' equity during the first quarter amounted to 3.455 million riyals, compared to 3.490 million riyals for the same quarter of the previous year, a decrease of 1%.
