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Al Samaani’s board recommends 5% dividends for FY20

Al Samaani’s board recommends 5% dividends for FY20
Al Samaani swung to net profits of SAR 1.22 million in the first half of 2020.
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Riyadh – Mubasher: The board of Al Samaani Factory for Metal Industries Company proposed a cash dividend distribution of SAR 1.25 million to shareholders for fiscal year (FY) 2020.

The recommended amount represents SAR 0.5 per share or 5% of the share’s par value, according to a bourse disclosure on Wednesday.

Eligibility of dividends will be to the shareholders on the maturity date, as per the registered shareholders in the register of the Securities Depository Center Company (Edaa) at the end of the second trading day following the ordinary general meeting's (OGM) assembly date, which will be announced in due course.

The distribution date will be disclosed after the OGM approves the said recommendation. 

During the first half (H1) of 2020, Al Samaani swung to net profits of SAR 1.22 million, against net losses of SAR 622,000 in the same period a year earlier.