Riyadh - Mubasher: Suspended furnaces of Saudi Vitrified Clay Pipes will be reoperated on 10 April.

The company attributed the reoperation to the low inventories and high demand on the company’s production, according to a bourse filing on Monday.

The financial impact of operations resumption is expected to appear as of the second quarter of the year.

In July 2016, the company announced the suspension of a number of furnaces in its Riyadh facility due work stoppage in sanitary projects in 2016.

In a separate statement, the firm said that its extraordinary general meeting (EGM) approved the distribution of cash dividends to shareholders for 2016.

The company will distribute dividends at SAR 4 per share, totalling SAR 60 million and representing 40% of the par value.

The EGM also agreed on the board and auditor's report for the year ended on 31 December 2016, adding to mandating the board to distribute interim dividends for 2017.

Vitrified Clay posted net profits of SAR 68.4 million in 2016 compared to SAR 103.2 million in 2015, with a 33.72% decline.