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Taiba proposes SAR 0.40/shr dividends for Q4

Taiba proposes SAR 0.40/shr dividends for Q4
(Photo credit: Arabianeye - Reuters)
TAIBA
4090
35.04% 37.00 9.60

Riyadh – Mubasher: Taiba Holding's board recommended the distribution of dividends of SAR 0.40 per share at a total amount of SAR 60 million for the fourth quarter of 2016.

The dividends' distribution represents 4% of the stock’s par value, according to a bourse filing on Thursday.

Shareholders of record until the end of trades of the ordinary general meeting (OGM) will be entitled to the dividends' distribution.

Total distributed dividends for 2016 will reach SAR 240 million at SAR 1.60 per share, representing 16% of nominal value.

The company's capital amounts to SAR 1.5 billion, distributed over 150 million shares at a par value of SAR 10 per share.

Taiba reported net profits of SAR 54.95 million for the fourth quarter of 2016 down from SAR 75.5 million for the same period a year earlier, with a 27.2% decrease.