The Board of Directors of Yanbu Cement Company decided to distribute cash dividends to shareholders for the second half of the fiscal year 2020.
According to Arabiya Net, the company said in a statement that the total dividends amounted to 196.875 million riyals, distributed over 157.5 million shares, bringing the share of profits to 1.25 riyals.
The company indicated that the eligibility of the profits will be for the shareholders who own the shares on the maturity date of February 28, 2021 and who are registered in the shareholders register issued with the Securities Depository Center Company at the end of the second trading day following the date Entitlement.
It is reported that the company has spent one riyal per share for the first half of 2020, with a total amount of 157.5 million riyals, 10% of the share's nominal value.
The company's quarterly net profits rose by 33.16% to 82.48 million riyals, compared to 61.94 million riyals for the third quarter of last year.
The company stated in a statement on the Saudi Stock Exchange Tadawul that the increase in net profits is due to higher revenues, lower costs, administrative and general expenses, selling and financing expenses and higher revenues Other, compared to higher Zakat.
