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Sumou Real Estate records SAR 47.5m profits in H1-21, to pay dividends

Sumou Real Estate records SAR 47.5m profits in H1-21, to pay dividends
Earnings per share stood at SAR 1.2 in H1-21
SUMOU
4323
60.77% 62.30 23.55

Riyadh – Mubasher: Sumou Real Estate Company posted an annual growth of nearly 32% in net profits after Zakat and tax to SAR 47.49 million in the first half (H1) of 2021 from SAR 36.05 million in H1-20.

Earnings per share stood at SAR 1.2 in H1-21, compared to SAR 0.96 in H1-20, according to a bourse filing.

The sales declined by 33% to SAR 33.33 million in the January-June 2021 period from SAR 49.91 million in the same six months in 2020.

In a separate disclosure, Sumou announced the distribution of a cash dividend worth SAR 0.5 per share, representing 5% of the share’s par value, for H1-21.

The company will pay a total amount of SAR 18.75 million for 37.5 million eligible shares.

The distribution date has been set as 14 October for the shareholders of record date equivalent to 26 September.

It is worth noting that Sumou Real Estate is listed and trading on the Saudi Exchange’s (Tadawul) Parallel Market Nomu.