Riyadh – Mubasher: Jarir Marketing Company’s board of directors on Monday decided to distribute SAR 282 million cash dividends, or SAR 2.35 per share, for the fourth quarter of 2018.

Distributions represent 23.5% of the share’s par value, according to a statement to the Saudi Stock Exchange (Tadawul).

Jarir Marketing Co. further noted that dividend distributions will start on 27 March.

“The eligibility of dividends shall be for the shareholders whose own shares on maturity Monday, 18 March, 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.

Jarir Marketing last reported a 10.64% year-on-year increase in profits during the full-year 2018, reaching SAR 960 million, compared to SAR 867.7 million.

In February, the Saudi Capital Market Authority (CMA) imposed a SAR 20,000 fine on Jarir Marketing Co. due to violating paragraph (a) of Article (61) of the Rules on the offer of securities and continuing obligations.