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Eastern Province Cement’s profits drop 7% in 2021; dividends announced for H2-21

Eastern Province Cement’s profits drop 7% in 2021; dividends announced for H2-21
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Riyadh – Mubasher: Eastern Province Cement Company has registered net profits after Zakat and tax worth SAR 201 million in 2021, down 7.37% from SAR 217 million in 2020.

The revenues soared by 2.15% year-on-year (YoY), reaching SAR 758 million in 2021 from SAR 742 million, according to a bourse filing.

Moreover, the earnings per share (EPS) declined to SAR 2.34 last year from SAR 2.53 in 2020.

In a separate bourse filing, the company announced that its board decided to pay SAR 1.10 per share as a cash dividend for the second half (H2) of 2021.

Eastern Province Cement will pay out cash dividends totalling SAR 94.60 million, representing 11% of the capital, for 86 million eligible shares.

The eligibility and distribution dates will be on 11 and 26 April, respectively.

It is worth noting that in the first half (H1) of 2021, Eastern Province Cement recorded net profits after Zakat and tax worth SAR 122 million, a rise of 5% YoY from SAR 116 million.