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Batic to distribute SAR 0.25/shr dividend for Q1

Batic to distribute SAR 0.25/shr dividend for Q1
(Photo Credit: Arabianeye-Reuters)
BATIC
4110
33.70% 2.42 0.61

Riyadh – Mubasher: Batic Investments and Logistics Co recommended distributing 25 halalas, representing 2.5% of the par value of shares, as a cash dividend for the first quarter of 2017.

The total value of the dividends amounts to SAR 6 million, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Sunday.

Shareholders registered in the company’s books by the end of the trading day of the shareholders’ meeting, as well as those registered by the end of the second trading day following the due date will be entitled to the dividends, Batic said.

The date for the shareholders’ meeting will be determined after obtaining the regulatory approvals, while the distribution dates will be determined afterwards, the statement added.

Batic’s net profits dropped 39.41% to SAR 9.3 million in the first quarter of 2017, compared to SAR 15.3 million in the year-ago period.

The company’s stock closed at SAR 52.75 on Thursday, losing 1.36%.