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GASCO’s profits exceed SAR 201.5m in 2021; dividends for H2-21announced

GASCO’s profits exceed SAR 201.5m in 2021; dividends for H2-21announced
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Riyadh – Mubasher: National Gas and Industrialization Company (GASCO) has generated net profits after Zakat and tax worth SAR 201.70 million in 2021, an annual jump of 47.33% from SAR 136.90 million.

Revenues reached SAR 1.90 billion, a year-on-year (YoY) decrease of 3.13% from SAR 1.96 billion in 2020, according to the financial results.

The earnings per share (EPS) rose to SAR 2.69 in 2021 from SAR 1.83 in 2020.

In a separate bourse filing, the company’s board announced a cash dividend of SAR 0.75 per share for the second half (H2) of 2021.

GASCO will pay a total amount of SAR 56.25 million, representing 7.50% of the capital, for 75 million eligible shares.

The eligibility and distribution dates will be on 30 March and 13 April, respectively.

It is noteworthy to mention that in the third quarter (Q3) of 2021, the Saudi listed firm posted a 115.80% YoY hike in net profits after Zakat and tax at SAR 36.70 million, compared to SAR 17 million.