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Zahrat Al Waha profits up 63%; plans SAR 0.75/shr dividends

Zahrat Al Waha profits up 63%; plans SAR 0.75/shr dividends
Net profit reached SAR 56.6 million in 2019
OASIS
3007
1.02% 59.60 0.60

Riyadh – Mubasher: Zahrat Al Waha for Trading Company posted 63.4% growth in its annual net profit after zakat and tax, as shown by its financial results.

Net profit reached SAR 56.6 million in 2019, compared with SAR 34.7 million in 2018.

The reason for the increase in profit is increased sales and a decline in financing costs, the company disclosed in a statement to the Saudi Stock Exchange (Tadawul).

In addition, the company board of directors has recommended the distribution of SAR 11.25 million in cash dividend to shareholders for the second half (H2) of 2019.

Dividends will be distributed at SAR 0.75 per share, or 7.5% of the share’s par value.