Riyadh – Mubasher: Al Yamamah Steel Industries’ board of directors on Sunday, 21 January, approved distributing cash dividends at SAR 0.5 per share for the second half of 2017.

The value of total distributions will be SAR 25.4 million, representing 5% of the share’s par value, according to a statement on Monday to the Saudi Stock Exchange (Tadawul).

Dividends will be distributed among eligible shareholders of record by the end of the second trading day following the maturity date.

Eligibility will be for shareholders registered in the group’s register at the depository centre at the end of trading on 28 January.

Dividend distributions will start on Sunday, 18 February.

The dividends will be transferred directly to the eligible shareholders' current accounts that are linked to their investment portfolios through the National Commercial Bank (NCB).

By 10:36 am KSA time, Al Yamamah Steel’s stock rose 3.08%, reaching SAR 25.75.