Riyadh – Mubasher: City Cement Company on Sunday announced that the company’s shareholders had approved a cash dividend distribution of 40 halalas per share for the full fiscal year 2018 during an ordinary general meeting (OGM) held on Thursday, 4 April.

The dividends will be distributed on 16 April, according to a statement to the Saudi Stock Exchange (Tadawul).

The eligibility of dividends shall be for the shareholders at the end of trading on Thursday, 4 April, and as per the registered shareholders in the register of The Securities Depository Center Company at the end of the second trading day following the eligibility date.

The OGM also approved to authorise the board of directors to distribute dividends for 2019, in addition to the auditor’s and board’s reports.

During the full-year 2018, City Cement reported an 18.93% year-on-year profit growth, logging SAR 111 million, from SAR 93.3 million.

By 10:49 am Saudi time, City Cement Company’s stock fell 2.14% to SAR 11.