Riyadh – Mubasher: The board members of Herfy Food Services Co recommended a cash dividend of SAR 1.1 per share for the second half of fiscal year 2019.

The proposed dividends are valued at SAR 71.15 million that will be distributed on 64.68 million shares, according to a bourse disclosure on Thursday.

Herfy Food will announce the distribution date once the ordinary general meeting (OGM) nods to the recommendation.

The company has already distributed SAR 1 a share as dividends for the first half of 2019, with a total of SAR 64.68 million. Therefore, the total cash dividends distributed for 2019 would amount to SAR 135.828 million or SAR 2.1 per share.

It is worth noting that during FY19, Herfy Food recorded a net profit of SAR 196.08 million, down by 3.96% year-on-year (YoY) from SAR 204.16 million.