Yanbu Cement Company's financial statements showed that the second quarter earnings of this year decreased by 7.1% compared to the profits for the same period last year.
According to the results of the company for the Saudi market (Tadawul) today, Thursday, the profits for the period amounted to 37.33 million riyals, compared to the profits for the same period of 2019 amounting to 40.17 million riyals. p>
The company said in the statement that despite the decrease in general and administrative expenses, the creation of an additional provision for Zakat resulted in a decrease in net profit.
The company achieved profits of 129.56 million riyals for the first half of this year, compared to 113.03 million riyals for the same period in 2019, an increase of 14.6%.
The company’s board of directors recommended in its meeting yesterday, to distribute cash dividends to shareholders for the first half of this year, amounting to 157.5 million riyals, or 10%, at one riyal per share. < / p>
The company clarified that the eligibility of dividends shall be for the shareholders who own the shares on the maturity date on September 30, 2020 and who are registered in the register of the shareholders issued with the Securities Depository Center company at the end of the second trading day following the maturity date .
(Fun Knowledge of Knowledge)
