Riyadh – Mubasher: Jazan Development Co (Jazadco) said that the distribution of cash dividends for 2016 will start 22 August through Banque Saudi Fransi.

The company will pay dividends at SAR 0.5 per share, totalling SAR 25 million and representing 5% of capital, according to a bourse filing.

Shareholders of record at the end of the extraordinary general meeting (EGM) on 2 May and who are registered on the following day are eligible for the dividends.

The firm achieved SAR 6.13 million in profits in 2016, compared to SAR 22.2 million in 2015, with a 72.4% drop.