Riyadh – Mubasher: Almarai Company’s shareholders approved a cash dividend payout of SAR 1 billion for 2020, according to a bourse disclosure on Wednesday.

The company will distribute SAR 1 per share to the eligible shareholders starting 21 April, with the total value representing 10% of the capital.

Almarai’s board members recommended last December paying 10% of the share’s nominal value as dividends for 2020.

The company has achieved an increase of 9.5% in net profits to SAR 1.98 billion last year from SAR 1.8 billion in 2019.

Almarai’s equityholders have also agreed to purchase up to 10 million shares that will be allocated for the Employee Stock Ownership Plan (ESOP).