Riyadh – Mubasher: Banan Real Estate Company recorded net profits after Zakat and tax worth SAR 23.61 million in 2021, up by 43.13% from SAR 16.49 million in the previous year.

Earnings per share (EPS) rose to SAR 1.18 last year from SAR 1.07 in 2020, according to the financial results on Monday.

The real estate developer generated revenues worth SAR 18.90 million in 2021, a surge of 51.34% year-on-year (YoY) from SAR 12.48 million.

In a separate bourse filing, Banan Real Estate announced the board’s recommendation to pay out SAR 0.30 per share as a cash dividend for the second half (H2) of 2021.

The company will disburse a total amount of SAR 6 million, accounting for 3% of the capital, for 20 million eligible shares.

The firm will disclose both of the eligibility and distribution dates at a later time.

It is worth noting that in H1021, Banan Real Estate reported SAR 12.91 million in net profit, up 52.5% YoY from SAR 8.46 million.