Qassim Cement Company achieved a growth of 16% in its net profits to reach 419.83 million riyals in 2020, compared to 360.7 million riyals in 2019.
According to Arabiya Net, the company's total sales amounted to 898.4 million riyals, a growth rate of 13.4% compared to sales of the year before last.
The company said in the statement that the reason for the increase in net profit is the increase in the quantity and value of sales, the decrease in selling and marketing expenses and the increase in other revenues.
The increase in profit was supported by the absence of other expenses during the current year, despite the high cost of sales, the rise in general and administrative expenses, and the increase in zakat expense.
In another context, the Board of Directors of Qassim Cement Company recommended distributing cash dividends to the shareholders of the company for the fourth quarter of 2020, at a rate of 1.2 riyals per share, in a ratio of distribution to value The nominal share is 12%.
The company said in a separate statement on Tadawul today, Thursday, that the total amount distributed is 108 million riyals, over 90 million shares.
and the eligibility date is February 4, 2021, provided that the eligibility for shareholders owning shares on the day of entitlement registered in the company's shareholders register at the Depository Center at the end of the second trading day following the date Due, and the distribution date is Sunday, February 21, 2021
