Riyadh – Mubasher: The ordinary general meeting (OGM) of Southern Province Cement Company has agreed on paying out cash dividends, equivalent to 22.5% of the company's capital, for the second half of 2019.

The distribution of cash dividends stands at SAR 2.25 per share, totalling SAR 315 million, according to the company's disclosure to the Saudi Stock Exchange (Tadawul) on Monday.

During the meeting, the shareholders have set 19 April as the date of dividend distribution.

The shareholders have also approved the board's decision on SAR 175 million cash dividend distribution, equivalent to 12.5% of the company's capital, for the first half of 2019.

It is noteworthy to mention that in 2019, the company's net profits surged by 137.435% to SAR 463 million from SAR 195 million in 2018.