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Southern Province Cement to pay SAR 350m dividends for H2-20

Southern Province Cement to pay SAR 350m dividends for H2-20
Southern Province Cement has paid out 22.5% of the capital as dividends for H1-20
SPCC
3050
-0.59% 84.00 -0.50

Riyadh – Mubasher: Southern Province Cement Company’s shareholders nodded to the recommendation of distributing 25% of the capital as cash dividends for the second half (H2) of 2020.

The company will pay SAR 2.5 per share to the eligible shareholders as of 25 April, at a total value of SAR 350 million, according to a disclosure to Tadawul on Monday.

Southern Province Cement has paid out 22.5% of the capital as dividends for the first half of 2020. The payout amounted to SAR 2.25 per share at a total value of SAR 315 million.

The company’s net profit last year increased to SAR 609 million, compared with SAR 463 million in 2019.