Riyadh – Mubasher: Middle East Paper Company (MEPCO) has achieved net profits after Zakat and tax worth SAR 220.86 million last year, a year-on-year (YoY) hike of 994.70% from SAR 20.17 million.

The revenues increased by 45.91% YoY to SAR 1.05 billion from SAR 724.68 million in 2020, according to a bourse filing on Thursday.

Moreover, the earnings per share (EPS) widened from SAR 0.41 in 2020 to SAR 4.43 in 2021.

In a separate bourse disclosure, the company’s board has recommended a cash dividend of SAR 1 per share for 2021.

MEPCO will pay out an amount totalling SAR 50 million, representing 10% of the capital, for 50 million eligible shares.

The company will announce the eligibility and distribution dates at a later time.

It is worth noting that in the first half (H1) of 2021, the Saudi listed firm logged net profits after Zakat and tax worth SAR 60.80 million, a leap of 290.69% from SAR 15.56 million in H1-20.