Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Uncategorized

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

EIC to pay $22m dividend

The company will pay 15 percent cash dividend.
By TRENDS Desk
March 12, 2024 6:09 pm
  • The company had reported a 113 percent increase in net profit to SAR 201 million in 2023, compared to 94 million a year ago.
  • The increase in net profit was attributed to an increase in sales from SR 1.066 billion to SR 1.559 billion

Riyadh, Saudi Arabia — Electrical Industries Company (EIC) has announced it will pay a 15 percent cash dividend, or 0.075 per share, for the second half of 2023.

In a Tadawul filing, EIC said a total of SAR84.37 million ($22 million) will be paid to the shareholders on 24 April 2024.

The company had reported a 113 percent increase in net profit to SAR 201 million in 2023, compared to 94 million a year ago.

The increase in net profit was attributed to an increase in sales from SR 1.066 billion to SR 1.559 billion. In addition to the diversification of the sold products which include products with higher profitability and better gross margins.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]