Dubai, UAE — Saudi Arabian firm Yanbu Cement Monday said its Board of Directors have decided to distribute cash dividends of 236 million Saudi riyals to shareholders for the first half of the fiscal year 2023.
The dividend of SAR1.50 per share, equivalent to 15 percent of the capital, will be paid for 157.50 million eligible shares.
In a Tadawul filing, the firm said the eligibility and distribution dates for the cash dividends will be 31 May and 20 June 2023, respectively.
The company had posted a net profit of SAR51 million for the first quarter of 2023, a 31 percent increase from SAR 39 million in Q1 2022.
The rise in net profit was attributed to the improvement in the average selling price and the decrease in the cost of sales revenue.