Dubai, UAE — Saudi food giant Savola Group’s board has recommended a cash dividend of 352 million riyals ($93.7 million) to the shareholders for 2022.
This amounts to 0.66 riyal per share. The date of distribution will be announced later, the company said in Tadawul disclosure.
The General Assembly date will be set after securing the formal approvals from the relevant authorities, in which the related Board’s recommendation will be ratified, the company said.
The Group reported a net profit of 742.80 million riyals for 2022, a 234.75 percent rise over 221.90 million in 2021. The firm recorded 28.05 billion riyals in revenue for 2022, which was 13.72 percent higher than the 24.66 billion riyals the previous year.
