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SACO nods to distribute SAR 36m dividends for H2-18

SACO nods to distribute SAR 36m dividends for H2-18
Distributions represent 10% of the stock’s par value
SACO
4008
42.45% 37.75 11.25

Riyadh – Mubasher: Saudi Company for Hardware (SACO) on Wednesday announced a cash dividend distribution of SAR 36 million, or SAR 1 per share, for the second half of 2018.

Distributions represent 10% of the stock’s par value, according to a statement to the Saudi Stock Exchange (Tadawul).

“The eligibility of dividends shall be for the shareholders whose owns shares [on 3 April 2019], and registered with the Securities Depository Center Company (Depository Center) at the end of the second trading day following the date of maturity,” the statement added.

SACO further noted that distributions will take place on 17 April.

Earlier on Wednesday, SACO posted a 6% year-on-year drop in net profit during the fourth quarter of 2018, logging SAR 38.48 million, from SAR 40.99 million.

By 12:15 pm Saudi time, SACO's stock rose 1.21%, reaching SAR 66.90.