Saudi-based The Savola Group said, in a statement to the stock market, that, it approved cash dividend distribution for Q3-14, which comes in a continuation of its declared policy to distribute quarterly dividends to its shareholders and due to the outstanding net profit reported during the third quarter, 2014, which amounted to SAR 701.4 million.
Dr. Abdulraouf Mohammed Mannaa, Group CEO and Managing Director announced that Savola board, has approved on 23/10/2014, the distribution of SAR 400.48 Million, (i.e. SAR 0.75 per share) as dividends for the third quarter of 2014, which represents 7.5% of the company's nominal share value, out of which SAR 266.99 million as quarterly dividends (SAR 0.50 per share) and SAR 133.49 million as exceptional dividends (SAR 0.25 per share) for the same quarter.
This is due to the outstanding performance and the capital gain achieved during this quarter. Therefore, the dividends distributed to shareholders during the first and second quarters and the proposed dividend to be distributed for the third quarter of the fiscal year of 2014 will reach SAR 934.46 million (SAR 1.75 per share), which represents 17.5 % of the company's nominal share value. The maturity date for the 3rd quarter of 2014 dividends will be for all shareholders registered in the company books at the end of the trading day on Sunday, 26th October, 2014. The dividend payments will be processed as of Monday, November 10, 2014.