Riyadh – Mubasher: Al-Jouf Agricultural Development Company’s (Jadco) board on Wednesday recommended the distribution of SAR 1 per-share dividends for the year 2018.

The board proposed the payment of SAR 30 million in cash dividends, according to a bourse statement.

The Saudi company reported a 40% year-on-year increase in profits during the full-year 2018.

JADCO’s net profits after calculating Zakat and Tax amounted to SAR 35.76 million ($9.53 million) last year, up from SAR 25.60 million ($6.82 million) in 2017, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm attributed the 2018 profit jump to higher olive oil and alfalfa sales.